Part of the intro from IN378, out on Sunday:
You can frame the following in all sorts of ways, but as its essence is simple I’m going to keep it simple, too: WE ARE IN A BULL MARKET, we’re a thousand miles away from the mentality at the start of 2016, so do not fear market corrections. Friday was an opportunity to buy a dip, it won’t be the last one either. Therefore...
1) If you’re smarter than I at trading then trade away, sell the top of the channels and buy at the bottoms. Knock yourself out for fun and profit.
2) If you’re like me hold those longer-term positions with confidence, don’t sweat the bumps, maybe add to the ones you’re looking to add.
Friday was a correction day and brought gold back under the U$1,350/oz level (which broke last week right on cue and kept my evolving script in good shape, gosh aren’t we all rocket scientists these days), I have no idea whether the correction was of the 24 hour variety or whether the lag will continue into tomorrow Monday. I doesn’t really matter much, gold’s going to be higher at the end of the year than it is now.