Because the chart says so. I have been doing this for too many years to worry about daily losses (and I have them) on pullbacks within bullish patterns or up trends. And what we have here is HUI in a daily up trend. It should be noted that the weekly is still in a DOWN trend but what is operative here is the daily since this was a play off of a bottom and the weekly broke out of trend lines, so the official trend (by AROON) should follow - the 'early warning system' ADX on the weekly has already done so. If the daily up trend is lost and we end up trending down on both time frames, we may have an intermediate term problem. But the chart says stay firm so I do. Rules are rules. This (precious metals) - other than cash and the play on the cubes - is my only position. It tells me technically to remain firm and that is what I will do until such time as technicals change. It would be best to see Huey resolve in the SMA 50 & 200 area but I have included the 300 as well for reference.
Separately, I understand times may be difficult and hence the err, muted response to my gratuitous pitch for PayPal donations. No harm no foul. I ended up shelfing the Les Paul idea (already have an SG with all the humbucking bite I need anyway) and cycled website commissions into a less expensive but more versatile Strat. I needed a trem bar anyway and this FrankenStrat is fitted with a humbucker as a bridge pickup!
Going forward, if things work out I will appreciate whatever nickels or dimes you care to throw my way and I will keep doing what I do in the meantime. The only thing that could upset the blog is if I decide to start a newsletter which as many readers know I have been grappling with and resisting for some time now. So as long as I do not need another job things will likely remain as is.
Have a great weekend!
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