June, July and August are many times the most seasonally-weak period for the junior resource sector. This year it’s been especially tough given the fact that the new highs in gold have not been remotely reflected in the juniors.
The chart below suggests the market is attempting to make a significant bottom. Fingers and toes crossed as it’s been ugly!
Via Dennis Gartman: IS GOLD REALLY A SEASONAL TRADE: We ran across this “seasonal” chart of gold yesterday, and if it can be believed…and we see no reason why it shouldn’t be… then gold is making a seasonal low here in mid‐June. For a Trial Subscription go to The Gartman Letter
On Major Moves, Peter Grandich has been very right and not only saved many investors fortunes, but expanded them dramatically. On November 3, 2007 at the MoneyTalks Survival Conference, Peter Grandich of the Grandich Letter warned that “an unprecedented economic tsunami will hit American beginning in 2008”. Peter advised publicly to short the US market two days from the top in October, 2007 and stayed short until the last week of October, 2008. He began to buy stocks in March 7th, 2009. He also bought oil and oil related investments near the lows after the dive from $147.
….go to visit Peter’s Website
To HERE Peter speak and others speak on Trading go HERE: