The mining stocks have been beaten into oblivion and anyone who owns a miner should have a lick of common sense and realize the sky is falling. Heck, just look at any chart and that's easy to see. No wonder 'everyone' is selling.
Or, maybe ...... not.
This post will look at the miners and examine the sky that everyone is convinced is falling upon them. And after we put that in perspective I'd like to suggest to you the sucker's trade of the decade.
So the miners are hopeless. Worse than 2008 by a mile, obviously. OK, we know that is true because, well, that's what everyone thinks - so it MUST be true!
|Click on any chart to ENLARGE|
Yeah, I get it. This is not the most extreme correction in miner's history. At least, not so far.
Well, don't tell anyone.... please.
They are hopeless and you should just leave them to their misery. They know the sky is falling and, well, some of them have, you know, college degrees, fancy cars and big houses. Some will even talk behind your back on other blogs and, you know, resent you.
OK - you are probably right. And they are entitled to think and say as they wish. I understand.
But what if they take the sucker's trade? Shouldn't I care?
You mean the old triple top reversal pattern that is rare but eats suckers alive? Geez - you gotta tell them about that even if they are suckers ...don't you think?
I don't know. It's after midnight and I need my sleep. What do I owe these people anyway?
Well, it would just be nice of you to make the information known to them. Some will take it seriously and trade with a little more caution.
OK. Consider it done. I put the chart on the post and now I gotta get some sleep. They can do whatever they want but I'm not falling for the old triple top reversal pattern.