“The vast majority of investors are now bullish on the PM sector, with a current 89% bullish reading, after 100% at the start of July, as revealed by the Gold Miners Bullish % Index shown below. Although it has eased somewhat, the current reading is still very high and increases the risk of a significant correction soon. Holders of PM stocks at this point can either take some profits here, or buy on a dip to the lower channel boundary, with a close stop beneath it, and take profits in a more serious manner if the clearly defined uptrend fails.”

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