One Last Observation On Thursday’s Price Ambush

Gold is in a long term bull market.  As such, all sell-offs, price pullbacks, secular price corrections and overt, illegal manipulative price attacks, like Thursday’s, are to be bought – aggressively.  Feel free to take profits on part of your positions on big price rallies only if you have mining shares or paper surrogates (GLD, CEF, GTU, PHYS, etc).  Never, I mean NEVER, sell your physical gold/silver holdings until this long term bull has run its course.

On average, bull market cycles last 18-20 years.  We are only 9 years into the precious metals bull market cycle.  Historically, the most spectacular price gains occur in the latter stages of a bull cycle (think:  stocks, 1981 – 2001;  housing 1991 – 2007). 

Those of you/us who are willing to spend the time learning about, researching, investing in and trading the precious metals market will know what to look for when it is time to sell.  Until then, as per Jim Sinclair’s perfect advice:  “never trade your core 2/3’s position, always buy ‘fishing line’ sell-offs (like Thursday’s) and take profits on ‘rhino horn’ price rallies.”

Have a great holiday weekend.

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