TheDailyGold Nails Market Bottom & Rebound
Back in May with precious metals falling and heavily oversold we wrote an article, “Major Bottom could Happen this Week.” The evidence presented was too hard for us to ignore. The sector was extremely oversold and Gold, Silver and GDX was nearing strong enough support that would produce a rebound. After publishing, we received some lashings in the comment section. Some were so obscene that we had to delete them. A few months later, after the stable bottom, we published “Short-Term Outlook is Bullish.” The chart below shows Silver, Gold, SIL, GDX and GDXJ. We mark when we published each article.
Do we get every market call right? Of course not. We thought the market was close to a bottom in April but then it became apparent to us that the market was readying for a May bottom, similar to 2005. As a result of our timely calls and superior stock picking, our model portfolio (currently comprised of 10 mining equities) is up 17.2% year to date while GDXJ is down 5.0% year to date.
