Was Monday the bottom?

It’s possible gold finished its intermediate cycle low last Monday, but it’s also in the cards that the low will come on, or close to the FOMC meeting on June 13. The currencies have had a tendency to reverse on the rate hikes, and once the dollar turns back down it should release gold to begin what I think will be the breakout from this long and frustrating basing pattern over the last year and a half.

If we do still have 2 more weeks before the final bottom then this is the period where dumb money will panic and sell. It’s inevitable and happens at every single ICL. Let’s face it, dumb money has to consistently lose in order for smart money to consistently profit.

If gold turns back down next week are you going to behave like dumb money and panic, or will you see it as an opportunity forming.

ICL’s are the single best buying opportunity of the year. They usually only occur twice. Dumb money never see them as opportunities. They are too busy selling at the bottom.

The last really great opportunity like this came in December of 2016. So many people panicked and sold or cancelled right before the metals took off. The SMT metal portfolio has gone from +50% to +369% since then. With the benefit of hindsight we can now see that was the mistake of the decade.

Are you going to make that same mistake again right as the next great opportunity arrives?