The HUI has made a lower low than Friday and is now going to threaten the Aug. '07 low. If/when this breaks, a lot of people are going to concede "BULL OVER". This includes many respected and well followed analysts. This will be done into the teeth of CoT's that are getting more favorable to gold and unfavorable to the USD by the week. As mentioned the CoT's are not for timing but they are becoming favorable for a sustainable bottom. Remember HUI measured H&S target is 260's but lateral support is in the 250 area.
PS: SLV stopped out. Added back SLW that was dumped in the 11's. Also bought GG. Cash for capit-o-rama. Edit (1:21) Clarification based on an email I received from a friend... I will not sell value, as I have stated. You should see the value in my ports bleeding red day after day mostly in the form of smaller miners and a couple explorers with great prospects. That is the value I am talking about. As noted I have traded the SLW's and AUY's and just stopped out of SLV. But the HUI-Gold ratio is saying a lot about value now showing up across the entire sector, hence the buys of GG & SLW to replace it. Meanwhile this from my virtual pal Lucas: the funny thing is that I think both of us saw this coming, but one of my favorite factoids is that 'wind speeds in a tornado can only be measured by the damage that's left behind.' Markets are made by Men, and Man is the Irrational Animal.
Did you like this article?
Submitted By 
's
