It would be very encouraging if these moves had some legs to them and broke more key levels of overhead resistance for sure. The reason I used the word “pops” is that so far, until more data comes in showing these legs higher can be extended, then they appear to just be relief rallies after significant corrections.

It’s possible that area where the miners were so oversold, and where Gold retested that $1675ish area for the 4th time (down to $1678) and where Silver got down to $18.01 was the intermediate bottom we were looking for, so I’m optimistic it was a turn, and will be looking to see if the PM sector can keep clawing it’s way higher despite the disbelief most do have.

Personally, my stance was to go pretty much “all-in” on my precious metals positions the first and second week of July, and had mentioned I was back to 99% deployed at that point because things just seemed so bombed out on a sentiment and breadth basis. The BPGDM was flashing a 10 for breadth by the 2nd week of July, and you had posted that chart were 0 companies were above their 200 day moving averages, so it seemed like a good spot to get more aggressive and deploy my remaining dry powder.

Now in the 2nd week off August I’ve trimmed back a few positions that ran up double-digits the last 3 weeks, and am back up to 6% funds available (94% invested in PMs), and am about 90% invested in my uranium positions. I’m still not fully deployed in battery metals though, and would like to some more copper, nickel, palladium/platinum positions if we see a more extended move higher in the PM stocks, where I can trim off a few more profits.

Overall though, most of the PM positions I have are now positions trades in place for the next 3-12 months. My portfolio is the most weighted to gold and silver miners that is has been in about 6 years, as I feel the preponderance of evidence is that they have the furthest to run higher over the next year or two. If we do get the move back down lower over the next few months in a big stock market collapse that pressures all sectors, then I’d deploy my remaining funds in a few more PM miners that I sold earlier in the year that are now past their 30 day wash periods.

No complaints here DT. Actually in agreement with other posters than make sense, and don’t live in a world that informs me of what not to do. That’s all. This site is excellent for that.

Wolf:
There is some truth in what you say but it is also a semantic argument. For example, one could buy the bottom and go up 1000%, then have it walked back. Some would say they have no loss if it retreats 90%. Others would say they have a 90% loss. Then the issue is not buying the top, but not selling the top. Still a big drop either way. Too greedy may not be the issue.

I sent a reply that is wandering around somewhere. I guess it went to the “needs fixing” pile.

No need to feel sorry wolfster, as clearly posted here in past, very clear with my entries AND exits. After being out early april, bought it mid may and mid june, far from the top. Yet as I stated before, with gold basically where I purchased my assortment of dregs, still down on my 25% by about half with this pop up. The same old underperformance.
Unlike the bagholders that claim they bought for the long haul, LOL, and keep accumulating successive lows for more than a year, claiming each to be the next launchpad.
Still a bagholder but with plenty cash to leverage up once sector equities show some relative life.

Wolfster, you might want to check out this latest post by Bob Hoye on the History of Gold (Market) Rushes, you were talking about this subject recently in a post. DT

http://www.321gold.com/editorials/hoye/hoye081022.pdf