Report: US ETFs Signal Renewed Bitcoin Interest; BTC’s Limited 'Hot Supply' Eyes Bull Market

https://news.bitcoin.com/report-us-etfs-signal-renewed-bitcoin-interest-btcs-limited-hot-supply-eyes-bull-market/

Kraken Releases VIP Crypto Outlook, Forecasts Final Bitcoin Price at End of Bull Market Cycle

I agree with this assessment of Bitcoin.  This is not financial advice.

https://dailyhodl.com/2021/03/06/kraken-releases-vip-crypto-outlook-predicts-final-bitcoin-price-at-end-of-bull-market-cycle/

Gold has entered a new bull market: JPMorgan

http://www.cnbc.com/2016/05/10/gold-has-entered-a-new-bull-market-jpmorgan.html

Jim Rogers: I Bought More Gold Today; Bull Market Far From Over

http://www.hardassetsinvestor.com/interviews/4917-jim-rogers-i-bought-more-gold-today-bull-market-far-from-over.html

The secret bull market in gold

http://www.marketwatch.com/story/the-secret-bull-market-in-gold-2013-03-06

Gold Bull Market 1971 - 1981

Like most bubbles, the 70's bull market in gold went parabolic in the last couple years, as the mania phase kicked in.

Click on Image to Enlarge

2010 gold price: what bubble?

Click on chart to enlarge.

http://pragcap.com/is-gold-in-a-bubble

Bubbles

Click on chart to enlarge.

Gold is up almost 400% from its 1999 low, causing many to believe it is reaching bubble status. While I agree any asset can reach bubble status, gold's parabolic move is still ahead of us, in my opinion. Gold was up almost 2,000% between 1971 - 1980 during its last bull market. Similarly, NASDAQ stocks, driven by the internet mania, also increased over 1,000% between 1983 and its 2000 high.

http://www.mineweb.co.za/mineweb/view/mineweb/en/page103855?oid=106818&sn=Detail&pid=102055

See disclaimers on the side bar.

Disclosure: long gold, and long gold mining shares.

Accumulation

The only sector in the equities market showing accumulation is the precious metals mining sector (the GDX ETF is a good proxy). Check the share volume numbers over the last five years.

Whether you believe we started a new bull market since March 2009, or we are in the midst of a rebound within a secular bear market, the volume has to mirror the price action to be confirmatory. Other sectors are showing declining volume, despite higher prices, which is non-confirming. Liquidity injections (like the most recent $1 trillion Euro bailout) may prop up equities, but the foundation could be built on tooth picks.

See disclaimers on side bar.

Disclosure: long precious metals mining shares, long some biotechs, and natural gas pipeline companies.

Corrections in gold and silver

This is a good primer on corrections within a bull market in gold and silver.

http://www.dailywealth.com/archive/2010/feb/2010_feb_11.asp

If the Chinese economy falters, then it is very possible that commodities will fall as well, since China has been a huge market for them.

I think gold will do better than silver under this scenario, because gold is viewed as a monetary commodity by all the major players, whereas silver is viewed as an industrial metal as well as a monetary one. In a contracting economy, silver may fall. That doesn't mean I'm going to rush to sell my silver, it means that I am prepared to see silver fall.

- Chris Weber

Brian Hunt auggests the smart money is buying the dips.

Disclosure: long gold and silver mining shares.

James Turk on the "bubble" in gold

According to James Turk, we are entering the 2nd phase of gold's bull market. The mania-driven third phase has not come close to arriving yet.

http://www.fgmr.com/stage-two-of-golds-bull-market.html

Taking profits

And in these skittish markets, I'm not ashamed. Took some profits on TBT, up 50% due to rising 30-year T-bond rates (TBT is a double short ETF betting on rising bond yields and declining bond prices). It gapped up today and could break out, so I kept some on the table. But with a 50% profit, I had to take some off the table. If the Fed goes through with quantitative easing and monetizes that debt, they could temporarily drive bond prices up and yields down. Long-term, I'm still bearish Treasury bonds, so I will wait for another good entry point to buy TBT. But with volatile markets, you take your winners and cut your losers. Buy and hold won't work going forward (it didn't work in the last decade either).

Also, I cashed out partial positions in a uranium stock (up 25%), and of course DNDN this morning for a better than 300% pop. Notice I said "partial", as I am merely taking some profits, but letting the house money ride. Most professional traders average in their buys, and average out their sells, because no one can buy at the absolute bottom or sell at the absolute top. Don't blow your wad with one initial big trade. And don't get discouraged if the price drops a little as soon as you buy, or goes up a little when you sell. Knowing when to sell is as important as knowing when to buy.

The reflation play is still intact, and I will be looking to buy into dips on hard assets (commodities, precious metals, energy). We are in the throes of a bear market rally, but I certainly don't want to stand in the way of stampeding longs. When I hear talk of the beginning of a new bull market, I'll know this rally would have been a head fake, at which point I will buy some appropriate puts. If I miss the big decline--oh well. NOT losing money in this market is like a win.

I also want to get liquid and keep my powder dry, as another biotech opportunity is presenting itself. This may not be another DNDN blockbuster, but FDA approval seems imminent. Stay tuned.

Gold due for a pause?

For those who missed the run up in gold from November lows, you still have time, but now is not the time to commit new money, or even add to existing long gold positions. Technically, gold is still in a secular bull market that started as far back as 2001, but like any asset, prices don't move up or down in a straight line. Last week's up move in gold was breath-taking, so it's due for a pause or a correction at these levels. That's actually healthy, as it builds a stronger demand base (buyers) without the inherent froth of manias (we will experience that later when the general public drives up prices in a buying panic).

If anything, a correction is welcome, as it enables a lower entry point for long positions later on. Once the charts and the Moving Average Convergence Divergence (MACD) turns positive again, it will re-confirm our bullish posture. Until then, keep your powder dry and wait for that next opportunity.

GLD Price Chart and MACD Indicator