The Phaserl


Don’t Fear Strength, Plenty More Upside Ahead for Gold Stocks

by Jordan Roy-Byrne, Gold Seek:

Major bottoms in any market or sector usually produce big rebounds and big gains for those who are correctly positioned. For some, the initial strong gains create trepidation that the market will experience a big correction or revert back to the previous bear market (which created the foundation for the big rebound). I’ve noticed this trepidation over the past few days from subscribers and other advisors preaching caution or hedging their recent gains. This is all well and fine but the evidence as well as history suggest not to worry because the gains will continue unabated over the intermediate term.

I looked at history to identify the nature of corrections in gold stocks during cyclical bull markets within secular bull markets. I looked at the major bottoms during 1960-1980 (using the Barron’s Gold Mining Index) as well as the major bottoms during this bull market (using the HUI Gold Bugs Index) which began in 2000.

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