Now comes the next bounce

Just a quick post as I have been expecting the short term selloff to slow down in miners, then turn higher once again. We are at that point today, as I type this morning gold is up $21 and silver is up 30 cents so far (2%). I was asked how high and fast I think miners will bounce, but my answer is always the same, I have no idea and we will assess it as it comes. It’s possible the rally is so sharp that my monthly charts tell me to sell in several weeks, though that is not a high probability. It’s also possible we get a very weak bounce that rolls over quickly so miners can head lower and seek out an intermediate cycle low, but again this is not very high probability. If we are in the stage of the metals bull market I think we are in, we should get a decent bounce, then some more grinding sideways or a little lower, before grinding higher once again. The important thing is to remain invested until we get our signal to exit, and not leave the table any sooner or later just because emotions are leaning on us. I will keep you posted to changes, but so far all I have done is add some small portions more to our SILJ and MUX, with the hopes we saw lower prices to make more substantial buys. In any case, we have more shares than ever for the next move up, which looks to be starting now.