Well, it looks like we are poised for a new record opening high for the price of gold this morning and silver is trading up about 3% as I write this.

On Friday, the price of copper closed at a new high for the year too ,after it went up 3.55%. It was a big day and it came after a day in which copper came off sharply from a previous high. If you can remember, last week I did an update on copper, telling you that I was very bullish on it in the long-run, but a little worried that the short-term price action may be overextended, making a pullback or pause likely.

One reason I was a little worried about that, because the WSJ did a big story about everyone in the world being bullish on copper. It was making big news everywhere.

So, I was a little cautious about pounding the table on it, like I was back in March with the BCIM ETF, which I still own, and is an industrial metals ETF, heavily weighted with copper holdings.

I just don’t want to tell people to chase something without a good entry point.

Well, copper simply had a one day dip on Thursday, and went up again on Friday.

And this morning it looks like silver and gold are going to open higher again.

The lesson we can take from that is this metals bull market is real, it is going up fast, and if you are already in just hang on for the ride.

If you have a giant position in anything it is easy to get shaken out.

So, I just own positions that are not too big for me, but just big enough.

That’s what you got to do in order to hold through a bull market.

That’s the lesson we can take from last week’s copper action - and the price action in silver too, which is really taking off now, closing last week above $30 an ounce.

In case you missed it, check out my Sunday weekend update:

Precious Metals And Mining Stocks Are Making Early Bull Breakaway Moves (What To Do Now)

And…..in case you don’t know

I’ve been running my WallStreetWindow website now for over twenty years, but you are actually an early BETA tester in a new email list service, called Beehiiv that I’m using. It’s enabling me to make what is now a new nice email format for these newsletters and over the next few weeks I’m going to move my thousands of subscribers over from my older lists to this one that you are on. After I do that, I’m likely to add some optional pay bonus options, which you’ll get to participate in for almost nothing (90% discounts), because you are one of the first dozen subscribers on this email list.

-Mike

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