Rotate Out Of Gold, Or Keep Buying?

Friend, If you haven't heard the news, gold made new all-time highs this summer. It was pretty cool. It hadn't seen that in nearly a decade. Listen, some people are advocates of buying gold. They believe it helps to diversify risk. Of course, that was a pretty lame strategy for a long time. That all changed earlier this year when Gold Miners (GDX) finally broke out above $31, which had been a key level for years. And the metal itself broke out above $1,580 or so, which was also a key area. Of course, with GDX above $41 and the precious metal near $2,000 an ounce. Traders have been wondering and asking me what's next for gold? Well, I do have some thoughts on the miners and gold prices, and specific chart patterns I've noticed. Continue reading…

JC Parets

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