500000 oz milestone, page-149

Think back to the GFC. When all the news was coming out in detail about how close we were to a meltdown and how bad everything was economically, how many people expected a multi year rally for stock markets despite continual negative economic news flow both from the US and especially Europe. That negative news kept flowing for at least the first 2-3 years of the market rally and yet the market kept rallying. In those first 2-3 years of rally I kept hearing how the market could not keep going because the economy did not support it and it was all a house of cards and the market was an easy short on every big rally. You still hear that it is a house of cards and maybe that's correct but the market has had a huge bull move regardless.
Everyone now is convinced there is no news that will push gold higher. You don't need news, you just need a heavily oversold and undervalued market and we certainly have that.

No argument though with those that prefer to wait for confirmation and buy after they are convinced that a rally has begun. Problem is there are multiple false starts and by the time it is obviously a bull market again, SLR will likely be above $1 again. No system is perfect and no system guarantees no losses.
I used to trade 40,000 of these when this was above $3. My potential downside was $120,000. Thankfully I didn't ride it down. Now with 40,000 shares my maximum potential downside is $18,000 (most likely much less downside from this level) but my upside especially if I decide to hold long term is at least $100,000 and potentially $150,000 or more if/when gold recovers above US$1500 especially if AUD weakens to below 90c. Nice risk to reward now. Much better than for stocks that have been rallying for the last 3-4 years.
Point is there are arguments on both sides not just on the bear side.