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Sunday, November 18, 2012

Already time to buy miners?

The market and news continues to look weak, if not near future, but the year ahead.
It is perfectly sane to stay in cash at this point.

However, looking at the Gold miners, from a historical perspective, we are hitting levels where the risk is now reduced compared to the reward.
I believe GDX will hit easily above twice the current price by 2016.  Of course, I have been wrong before.

But looking historically, entry into GDX has significantly less down risk than two weeks ago.
GDX is now at 46.47, GDXJ at 21.51.

I am adding shares here.  good luck.

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