Let me see... there are exactly 2 times in 85 years with a negative January and a new high after february.... 2014.... and... oh no!!!!

Miners could consolidate a couple of days more, but they are a buy. I think there was a breakout and major change in direction in gold, silver and miners.

Chart: silver 60 min

Silver is heading for 23$, and then 26$. I plan to increase longs in miners in case silver sets a divergent low at about 20.75$.  Could take another couple of days but the next big move will be up!

Gold, goldstocks and silverstocks have already had a good run, now Silver has broken out. Looks like a good base imho.

Well, torvix... it seems that it has worked all the way up so far....

gold and silver stocks on fire but that can not be sustainable if silver is not able to break through here. Seems that someone is trying to prevent a break out...

I don't know if anybody mentioned that before or if there is a meaning. But since 2011 every correction in this bull market ended less severe than the correction before. This has ended with this correction.

an addition to my posting earlier:

here a chart of ABX (gold stock) relative to SPX. green lines are the bull markets in stocks (each 5 years), red line the bear markets in stocks (2 years each) see chart in earlier posting.

My point is that in the next two years gold stocks are likely going to outperform SPX. Turning points in the ABX/SPX ratio are not the same as turning points in the stock market. So it could well be that the ratio set the low already in october. But could also be that stocks are topping now and the ratio low will be later in the year, which would mean another nasty breakdown in gold stocks.

Personally I think that gold stocks have bottomed and offer a nice opportunity for the next two years.... relative to SPX... and probably relative to lots of other investments

At the beginning of 1996 there was the start of the last accelaration and exaggeration phase in the SPX. 5 years later in the year 2000 there was a significant top and a 2 year bear market. After again a 5 year rally and a 2 year bear. At the moment we have been exactly 5 years (well... maybe lacking one or two months...) in this bull market.

2 years of bear ahead?

 you are covering also the Turkish Lira?

Weekly Chart of FNV. Broke the Downtrendline. This is a Royalty Company (mostly Gold, some Oil). Should guide the direction of gold and miners, with more volatility than gold but less than mining companies.

One week ago I posted a chart of KGI.TO. Price was at 2.65

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What a move in gold stocks but there is still some room to go.

Wish I had bought KGI but I had others.... one of the them is AGI.TO. A sound and healthy company but reported bad numbers and outlook because of lower grades. Downside should now be limited and AGI.TO could play catch up.

Another one staying behind is CDE.

It's incredible but mining stocks with a mega run this week but the PM's gold and silver have not broken out......

Thanks Mia, are there more nice short opportunities?

Looking forward to matt's commodity newsletter.

Imho goldstocks are looking quite bullish. Could get a quick pop to 24/25$ at GDX?

Smaller stocks like KGI.TO could rise even more.... even without breaking the downtrendline.

In case the bankster want to prevent a rise here they need to hurry and put a couple of momo billions (Matts favourite picture) at stake and short this sector immediately.....

USO seeems to be a buy

Nice Trade, Lars. You put 32 Ticks at risk, which is quite a bit. But a 57 tick-reward is beautiful.....

At the moment it seems that a short on ES at 1831 is setting up

I would appreciate a CLF follow up.... Could this be a second chance to get in after the first push up?

CCJ looks not bad to me. Needs some time for flagging and then up again?

Could bull flagging here with much more upside to come?

normally a risk-indicator. Risk off now?