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Excerpts from discussions on Weigrand article,

"".......... The first rule, if you are a technician, is "Do not stubbornly believe the news, when the technicals are going South -- if you fight the trend, you will lose...and the trend is technical."

Narratives based on the latest news cannot be trusted. Define your risks with sound technical analysis. Repeat. DEFINE YOUR RISKS. Narratives appeal to the weak-minded who need scenarios to trade. Key inflection points always occur counter to the dominant narrative, and they are always triggered by technical metrics.

Prophecy is for gifted Magi. I do not belong to this club. Manage your money and stay on trend. If the trend you follow is minute or day, expect chaos. If it is weekly and monthly, define your risk accordingly.

Go out into your back yard and kick a tree. A spinner of narratives will fall out, and he or she will land with an extended hand, asking for $ for renewing your subscription (or beginning a new one). Wiegand knows what you and I know about the future -- absolutely nothing. Cast a jaundiced eye on such nonsense. The narrative never stops, and you must adopt technical metrics that allow you to follow it at minimum risk.

My read, on the present situation, is that we will test recent highs and consolidate. But I am only willing to bet half my trading capital on that particular narrative.

I do not profess to be a prophet. Sorry.

Buy low, sell high. Low and high are relative to context. 'Tis the damnable relative world we live in, and recognize it as such.

My prophecy? Higher in the miners, from here. Sell high. Do not vex yourselves with "How high is the top of the move?" Sell overbought, buy oversold. The miners and the bullions are in major long-term uptrends. Believe it. Trade accordingly, and do not whine when you are wrong. Volatility and the bull will bail you out if you just LET them.

What if you are wrong, and you feel fear in your gut during a down draft? Cut back. You were trading too much product. The markets will always be there tomorrow, next week, next month. Protect your cash. Trade judiciously. This is a tough game, and you are battling against professionals. Most importantly, this game NEVER ends. It is an ongoing narrative.

I am nervous and edgy, personally. I think we are at a short-term make-or-break point. I do not like the fact that GDX broke one of my favorite trading metrics, the 20-week EMA. On a Friday. Still, the long-term trend is intact. So, I will stay long 50% and jump in during any panic low. I am not smart enough to predict one of those, during a long term bull. I have seen this movie many times -- bulls go to cash and wait for what never happens. So, wishy-washy twit that I am, I'll just stay long 50%, watch the technicals, and either sell high, or buy more lower.

Good luck, all. Manage your money, and tune out the bullshit. Look for buying opportunities during an on-gong secular bull market in the precious metals. You all know the drill. Stay smart, stay comfortable, and stay LONG. The trend is your friend (now, you're not gonna tell me I'm not the first hash-brain to SAY that, are you...?).""

 Another comment;

""It always happens. It does not take a genius to figure it out. WHY? I cannot fathom except to assume that the "baby gets thrown out with the bathwater." Yeah, that must be it. When I first invested in the PM sector, I didn't get it. WHY?!, WHY?!, WHY?! It just is. If the overall market falters for one day, PM stocks CAN (but usually do not) hold up. Two days of down action? They may (but nearly never) hold up. Three days? PM stocks will lead the way! Hell, they may be showing some strength here and now, but so many of the smaller issues are SO OVERSOLD we should expect it so!

All the man is saying that he expects a bear market. Until I see otherwise, PM stocks tend to follow the trend...at least to some extent. I believe we will have our day where PM stocks are a safehaven and somewhat immune to downdrafts. BUT, I must follow my senses and realize that until I SEE otherwise i may as well game the dips as best i can. I think we have one coming AFTER this next week....Guess Lucky!""

Food for thought to digest on a rainy & cold Sunday.

Nessus