[malaguti]

Hi,

I notice that when I was first looking at miners a few months back and posted a number  of charts they were all  not in the proper stage to buy yet they are up 50-100% many of them. Now it seems the miners are all way too extended so I wonder if maybe the opportunity has passed. It seems that a few months back one could literally buy almost any decent large cap miner (and many small ones) and be up huge now even though they would  not been considered to be in the proper buy stage.

I am wondering if I am correct in thinking the opportunities to make decent money on miners has passed or are things setting up nicely for more potentially great opportunities? I don't know enough about miners and the Weinstein method to judge so wondering what you think about miners now and whether they could still have a big run ahead as in 2016 (problem is if most start running from here they will be well above 50% extended from the 10 sma weekly so one will be chasing and there is nothing to say they will pull back before steaming ahead higher).

I am adding the GDX chart asking that you perhaps point out what we should be looking for now to get in. Maybe the price will come back to the 10 sma (or at least closer) but it may not. I wonder if based on your experience you have an indication of whether there is still a lot of upside left in GDX and various individual miners.

Thanks,
Brian

GDX is extended, however is the chance passed? Not necessarily. its clearly in stage 2 (granted with some resistance ahead) however you'd want a decent pullback and it hasn't had one yet. with the s&p registering a swing high now, you'd want this to follow suit and then rebreak it