Back in the summer of 2009 I posted this chart with grey rectangle and speculated that if/when it will be broken through to the upside – we will see bull run in precious metals. That happened and now, I think, is the time to tighten stop losses and may be start taking partial gains – I, for one, started to sell some of the Eagles – Silver ones, for example, appreciated 50% in just few months, and gold Eagles performed not much worse. Why I think "it is time"?
Look at below chart – from the bottom in 2009 to that grey area and from grey area to recent top – we have 100% move. Plus, acceleration band (blue line) finally contained price and IF mid band will break this time – this might just be another good trade I've been waiting for since going short oil. (Still stubbornly holding long term SPY puts – will have to make decision closer to New Year)
Monthly chart worth mentioning as well – picture (counts) speak louder than words.
