One thing I feel has gotten lost in the whole “Stocks and Bitcoin make all-time highs every day” rhetoric is the overwhelming weakness in precious metals. Gold, Silver, Platinum and Gold Mining stocks are all making new lows, resuming their trend of lower lows and lower highs.
We’ve been aggressively bearish Gold, Gold Mining Stocks and anything precious metals really since October. Based on what we’ve seen since then, I see no reason to change our approach towards this market. To the contrary, I think the selling we’ve seen come in confirmed everything we had been seeing in September – a bunch of people getting caught long in a bull trap. It was classic. [Read more…]