Don’t chase gold/silver stocks

Gold/silver and their mining stocks have being doing extremely well in the past 2 weeks. I said precious metals have likely bottomed and I’m even more convinced now. But if you haven’t established any position yet but consider to do so or are considering to add new positions, don’t do it now. Gold/silver stocks have gone too fast too soon. The amazing over 30% advance within 2 weeks will likely run into some resistance. In the very near term, they will have to come down first to take a breath before running further higher. Today's jumping high at opening but closing in red is a warning sign that bad days are coming for precious metal stocks.  I expect it will happen sooner rather than later, likely within a week or two. So you will get a much better chance to buy (more) gold or silver stocks at a better price. Be patient!