GDX and GDXJ Making New Bull Market Highs

Not only are GDX and GDXJ making new bull market highs today, they are at prices not seen since 2011-2012. SIL and SILJ, the silver miners etfs, are not far behind, either. SIL got within a few pennies of a new bull high, while SIL has already achieved the mark. Many of our miners continue to make new highs, both for this bull, and in many cases all-time highs. It’s not too late, but I’ve learned that chasing moves can hurt, especially in the short term. If not already loaded, one has to weigh the risk of chasing vs the rewards that still lie ahead, and in this observers opinion, it still pays well to get long if you haven’t been invested in the group. That said, I am not buying or adding to positions today, as our accounts are already heavily invested and pushing for more. The best part is today’s huge move up, rare for a Monday, is occurring on no particular news. That is odd, because with so much volume being traded, somebody big is doing plenty of buying. Here is a weekly chart of GDX going back sixteen years, it should be clear to everybody that miners are going higher still.