Gold Stocks Explode, Silver Stocks Break out as Gold Stops Short of Breakout
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What an incredible week it was for the precious metal sector. The stocks really took it away. They really shined. The silver stocks, SIL, SILJ, up 14% and 15% on the week. GDX GDXJ just up over 10% on the week. Absolutely exploding. And folks, this is why I am a buy and holder. This is why you will hurt yourself if you try and trade in and out of the sector. Even though I have been cautious in recent weeks, expecting more of a consolidation, looking for more weakness in the stocks, I didn't sell out of my positions, nor would I advise that because in a bull market, the surprises are to the upside.
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Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
