Gold finally broke out to new highs. That puts the odds squarely in favor of a C-wave continuation.
I went over a bit of strategy in tonight’s report for those not already in. I’m going to go over stats and cyclical structure for the remainder of the C-wave in tomorrow’s report.
For those of you thinking about getting side tracked by a meaningless daily cycle low that is coming due, let me tell you from bitter experience the one thing you don’t want to do is lose your position at the beginning of a C-wave or C-wave continuation.
At this point the daily cycle corrections aren’t profit taking opportunities. That will come as we near the end of the C-wave.
At this time a daily cycle low is a last chance opportunity to get as invested as you are comfortable with, whether that be 50%, 75% or 100% will be up to each individual.
Don’t forget in bull markets and especially during aggressive C-wave advances the surprises come on the upside. Daily cycles can and often do run exceptionally long as a C-wave starts to gain momentum so losing ones position in an attempt to “time” a short term correction can potentially cost one many percentage points. It’s just not worth the risk. This is the time to heed “Old Turkey’s” advise.
Folks I have no doubt this will be the greatest bull market that any of us will ever see in our lifetime. Since November of `08 the precious metal sector has been doing everything but hit investors over the head with a pipe to let us know this is the leading sector of this bull.
Miners are the only sector exhibiting massive accumulation.
Compare the above chart to other sectors during this bull and you will see where the smart money has been positioning.