Gold is one of the biggest winners so far in 2024.

But you can argue that it's really the commodities complex that is leading, and Gold is just one of them.

Check out the YTD returns here.

But the unwind in Gold stocks relative to other types of stocks looks to be just getting going.

Here is the Gold Bugs Index, which is loaded with all the top mining stocks, compared to the S&P500.

Notice the dramatic underperformance for so long, followed by a failed breakdown, and now the squeeze is just getting started:

The most profitable part of a new market regime is how long it takes most investors to come around to it.

Humans are creatures of habit.

It's not easy to just shift an entire mindset, especially one that was over a decade in the making.

"I'm a Growth Investor"

"There is no reason to invest outside the United States"

"Stocks & Bonds. What are Commodities?"

"Why would I invest in Gold, when I can own more Tech?"

"The government will never let Crude Oil get to $200"

These are all things people say and actually believe.

It's taken a long time for people to convince themselves of these.

But over the years, I've learned (the hard way) that there is a time and a place for everything.

The bet we're making is that people will continue to believe all those things mentioned above, until it's too late.

How I learned it more than a couple of decades ago was that there were 3 asset classes: Stocks, Bonds AND Commodities.

But a funny thing happened throughout the 2010s. Commodities did so poorly, particularly when you compare their performance to Stocks and Bonds, that investors completely forgot that Commodities were an asset class.

Many newer investors never even knew in the first place.

But yes folks, there are 3 asset classes. And that 3rd one that everyone conveniently forgot about is the one that is dominating returns this cycle.

Here is a ratio of Commodities to Bonds in a strong uptrend as everyone keeps telling me that interest rates are falling.

It's actually the exact opposite. Interest rates keep going up, as Commodities rip higher and bonds keep falling apart.

You're going to tell me this isn't an uptrend?

You didn't fall for those lies about falling interest rates did you?

At this point, it's 2024.

We know for a fact that Wall Street banks are not here to help you or tell you the truth. That's not the business they're in.

The Financial Media has never been in the business of telling you the truth, so that's nothing new.

But the fact that they've been telling you all year that interest rates are going lower is hilarious.

None of these groups of people are here to help you. They're only here to help themselves.

And that's fine. There's nothing wrong with a Bank trying to profit for their shareholders. Just like there's nothing wrong with a media business trying to profit for their respective parent companies.

Profits are good.

Just don't think for one second that they're going to put your needs ahead of theirs lol.

This is the video recording of our April 1st Monthly Charts Live Strategy Session

This is the video recording of the March 2024 Mid-month Conference Call.

Have you heard that stocks are going up in anticipation of lower interest rates?

Me too.

That's hilarious isn't it?

What about all those journalists?

Are they feeding you the same garbage?

Yup!

How about the Biden?

This guy is still the President of the United States. And he's telling you that rates are going down.

Have any of these people even bothered to look?

Or are they just lying to you?

Neither is an acceptable answer.

The U.S. 10-year Yield just went out yesterday at the highest weekly close since November.

This is the video recording of the February 2024 Mid-month Conference Call.

This is the video recording of our February 5th Monthly Charts Live Strategy Session

This is the video recording of the January 2024 Mid-month Conference Call.

This is the video recording of our January 2nd Monthly Charts Live Strategy Session

This is the video recording of the December 2023 Mid-month Conference Call.