As you know metals and miners are a mainstay in my portfolio and I have not changed my opinion about their performance over the next few years. I do believe that all of us were pretty close of the bottom call and I really hope that you guys at least took starters. I understand that not everyone has long money to leave vested but I'm telling you guys, in a few years this is gonna be one of those "I wish I would have bought and held" things. Mark my words, Gold is moving north of 2K and of course it's going to take the miners with it. I'm saying this now because I want to make certain that everyone understands my long term outlook for metals and major minors is about as bullish as it's gets.
Now that we've gotten that out or the way nothing goes straight up so I will be changing position sizes as we continue higher. At the moment I'm only adding the dips and my goal of course is to add at the lowest possible price. Just a suggestion but it may be a good idea to try and grow some sort of metal position if you haven't already. This is something we'll be following very closely here on EST and I think most would agree that we've done a pretty good job and caught some good moves using fibs and EWs. Of course no one is perfect and we've blown a few as well but i'm absolutely certain that we're far far ahead on the correct call column.
Now I'm going to say something here that I'd like you to consider before I post my outlook. Gold and Silver and not the same thing. They don't look the same, they aren't used for the same things, and they aren't treated the same way by the wall street big boys. I'll say this again, GOLD AND SILVER are not the same thing. As long as you understand that it makes it much easier to understand why they don't move in unison and why I think we may have already seen the bottom in one and not the other. For some of you old timers you may have remembered me calling for gold to break 1100 and possibly 1000 before moving to new all time highs. I'm thinking gold has put in it's bottom already, however, I simply can't say the same thing about silver. I had silver putting in a bottom between 12-12.99. $13.62 may very well be the bottom but I'm just not feeling it. The chart is screaming for a short attack and I don't think it can be stopped if it happens. This is very important because in the long run I believe that silver will outperform gold over the next several years and if I'm right our best entry may be just ahead. Please guys just consider what I'm saying, in it's entirety, before slamming the door on what could be new news for both metals. Again not my opinion but if the charts suggest that's what's going to happen then that's what I'll be calling. Now if you already buying/holding and plan on going long none of this will matter much two years from now. For those of us that haven't' bought yet and are still trying for the best entry I certainly believe that if it hasn't already past we're only going to get one more shot. Of that I'm certain.......So right now I'm thinking anything under SI$13 is a solid entry, $12.50 would b even better. I fell much better about gold already putting in a bottom but if it hasn't I don't think it'll be much lower than what it is now and if it does approach that level it will be a quick dip. Now for an added surprise I even have a timeframe in mind that I'll post along with my market turn chart. Those of you that received my morning emails have the charts that layout my opinion for expected paths.
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