ThaiDiamond RE: ouch! (correction?)In your recent point, the points raised within I am largely in agreement, you wrote I think mistakenly as I have bolded and underlined....
"However I believe there will come a moment however when the pressure will blow like a top to the upside forcing these shorts to cover. I believe that will occur when the precious metals prices begin to rise dramatically as more and more financial institutions become insolvent.
This in turn will begin to draw a larger portion of the investing public towards the precious metals and the mining shares. The upside volatility at that point could be wicked when this occurs.
This is the reason I see the wisdom of selling core positions of quality junior mining shares. And ML is in that category. Weather the storm and know that this market will rebound with authority at some point.
I suspect you meant that
you do not see the reason in selling core positions....
I see no such wisdom is selling the likes of ML...and certain coal companies I own, generally thought of as "core," though I did see the advantage of reducing them at higher levels, only wishing I'd sold the lot so as to be able to buy them back anew at these levels, but that is hindsight..Something certainly changed in early July.
the CRB topped then...
https://stockcharts.com/h-sc/ui?s=$crb&p=D&yr=0&mn=6&dy=0&id=p29189484496&a=53752218&listNum=1
the commodity stock index ($CRX) had already peaked and started to break down then....
https://stockcharts.com/h-sc/ui?s=$CRX&p=D&yr=1&mn=5&dy=0&id=p46988700420&a=86211124&listNum=1
similarly ML.to had peaked in May and followed the $CRX's pattern...
https://stockcharts.com/h-sc/ui?s=ML.TO&p=D&yr=0&mn=4&dy=0&id=p24302165200&a=130768767&listNum=1
Monty Guild says on the Sinclair site tonight....writing along the lines of your post...
"those with foresight and a strong stomach survive."
https://www.jsmineset.com/
the only thing I can offer is that being on the look out for these seasonal sell offs and acting saves much stress on the stomach.....