I’ve got to run as it’s time to get ready to take out Mom, so here is the majority of the email that accompanied the report to subscribers this morning. I think it says well enough what NFTRH 394 was about. Well actually, I made a big deal about how I view risk in this note but the report itself pretty much covered the precious metals extensively, not with a focus on risk, but with the idea of trying to qualify and quantify the whole shootin’ match to this point. Frankly, the most enjoyable part was the gold stock charting.
“Happy Mothers Day and a good weekend to you.
NFTRH 394 takes a 20 page review of the precious metals complex and updates the usual markets as well.
The PM segments take up more than 50% of the report because I want us all to understand the firming bull market parameters and upside targets, but also the risk parameters. I am trusting that you do not need or want a writer to tell you exactly what to do and that you can function well understanding that risk is always there, while not over reacting (or under reacting for that matter, by becoming paralyzed by it) to it.
Risk is part of a bullish market and the awareness of risk is simply good practice, assuming we do not over react emotionally. But in certain areas I notice that it is becoming fashionable to minimize the risk and taunt precious metals holdouts to ‘get in’. Personally, I do not believe that gold perma bulls became geniuses over night and I continue to trade the swings (including potentially up to HUI 251) until we get some bedrock confirmations (they continue to go that way) and support tests (I buy other peoples’ fear confidently, but I buy peoples’ bullish momentum nimbly… and I sell it too). For others, the environment is improving for buying the pullbacks (like last week, quickfire as it was) and slowly building positions for a cyclical bull market.
What I am saying is similar to what I used to say during the great bull that began in 2001, “fear rides shotgun” in the gold sector. I am not trying to scare anyone, but I am and always have been a risk manager and I have never been afraid to talk about the risks so as to keep us grounded. You might want to consider, but not freak out over, this type of analysis. Targets are higher… and so is the risk level.
Oh and to balance the analytical and risk management content, we have several pages of updated gold stock charts too. :-)”
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