Loading ...That “greatest single danger” has not occurred (thus far at least) and gold now resides comfortably above the three-year band of resistance and that singular event has changed the landscape and my trading strategies moving forward. With apologies to John Maynard Keynes, when conditions change, I change and since conditions are now unequivocally bullish for all things golden, I am now looking to buy back the half positions in GDX and GDXJ sold a few pennies higher than where they reside today. As for the leveraged ETFs (NUGT and JNUG), I will stick to my guns and only initiate new positions when RSI approaches 30. As for gold and silver, all indications favor silver over the short-term horizon as it carries far less downside risk and far less vulnerability to massive profit-taking due to the fact that with the gold to silver ratio (GTSR) above 90 (eyes rolling while stomach turning), silver has been an absolute dog in any and all analysis. They used to refer to silver bulls as “gold bulls on steroids” but with the manner in which the silver bullion banks, the most notable being JP Morgan, have capped, sat upon, choked, muscled, and generally manipulated the price of silver, the silver bugs are now hiding in the dark sanctuary of silence. In fact, any time a silver “luminary” posts his or her bullish opinion, the comments range from vitriolic to laughable in their assault and ridicule.
