ZJG Update: Bull Or Bear ?

The debate rages on as gold stock bullish investors are convinced that this sideways wedge is a bullish sign.  The initial start only took about 6 months, but this so called correction has taken about 22 months. I could see it if  these gold stock ETFs only took 8-10 months but 22 months is very suspicious.

ZJG has started to dip again and is getting very close to cutting the bottom wedge line. Investor will see thier accounts get shredded if they believe that they should be buying on the dips. The rich can play that game but a guy like me with a small trading account cannot ride a bearish trip down.

If this bull market is a 4th wave rally then chances are good a new record low will happen. This goes against many bullish scenerios but I refuse to pussy foot around in posting what I see.  This ETF is pointing sideways but other gold stock ETFs are pointing down so we have a real mixed bag with basically the same pattern in 1/2 dozen gold stock related ETFs.

Stocks, bonds and gold have been falling together and the mass media has been quick to point this out. It may take all summer and into the fall for this to become obvious, but it will also represent another great buying opportunity.

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