Gold stocks: make history rhyme in your favor

They say that the history rhymes and that's generally true. Sometimes, the rhymes are almost identical. Like right now in the miners.You see, the thing is that the move higher that happened yesterday in the mining stocks is in perfect tune with what we saw during the previous topping pattern.

For example, there's nothing inherently bullish about a rally, and there's nothing inherently bearish about a decline. Just because the price moved up or down on the previous day, doesn't mean that the same thing will happen next. A rally or decline refers to the past, and being bullish or bearish refers to the future. Interestingly, a top can form only after a rally, and a bottom can form only after a decline, and one wants to buy at the bottom and sell at the top, right?...

And then, quite likely, months. You know, the world doesn't end with U.S. stock indices, and there's an entire index comprised of global stock indices except for the U.S. ones. The markets are emotional, and it was easy for people to just cling to the hopeful narrative that markets can only go up, forgetting that periodic slides are normal.

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