by Avi Gilburt
The last four years have seen a significant correction in the metals market. Gold has corrected almost 46% from its highs, whereas silver has corrected over 70%. One cannot view the mining stocks as being anything less than absolutely decimated.
Several weeks ago, I read a column on MarketWatch, which suggested that buying gold today is like buying stocks in 2009. While it is an interesting analogy, I think it is actually underestimating the potential appreciation for gold and mining stocks within the larger-degree perspective.
As some of you who have read my analysis of the metals market before may know, I view the larger-degree pattern in the metals and mining stocks as about to begin third-wave rally. Basically, that means that I am expecting the metals to begin a multi-decade rally.