The HUI ... the prime interest of all the gold believers.
Maybe a chart this weekend. Just too busy doing my part in keeping the oil pumping to the L48 to do much charting.
I made some hints in previous posts the CRB could go really low here. With respect to wave analysis I also made some recent hints that the last big move up in the HUI that got everyone so lathered up might not have been an impulse.
The 'might' is growing larger everyday.
To a waver this is significant stuff.
Gold stock after gold stock is biting the dust, to new lows. Amazing.
I suspicioned this long long ago. The hints were there but 'almost' no one wanted to see them. Gold signs were in the eyes, everywhere, and this was but one of the hints.
I will put together some charts and discuss this more. It is a subject that deserves further attention. There were several charts, and CDE was a primary one. Where is CDE today? 80 cents by my chart. TheFalcon, the bear w/r to pm stocks for many months now did not even expect that. But heck, he will take it home, all the way home (no position yet).
How low will the HUI go? It may even beat my outlandish prediction. I dunno here. All bets are off as I see it. The last part is always the most painful, and that is in particular true with gold stocks. We are I think in the early middle stages of the last part.
I feel really bearish pm's here. Maybe that is a good sign for bulls. I just looked at NSU.to, one I have been following. Thought its time was not too far around the corner ... nope, a wipeout. New lows are coming in that one too, so it looks.
But the future ... assuming the HUI put in a corrective wave up to the last top, the BIG TOP in the HUI is going to be out of this world. Many years down the road however. Many many years.
Life as we know it today is truly going to change when gold is set free, and it will happen. I can not even begin to imagine it. I don't think anyone else can either, let alone Ben B. and the rest of the economic think tank.
The market, truly the most amazing mechanism there is. Certain aspects of this melt are almost surreal.
The moral of this story is not new. Play the middle, take it home, and faget about the rest.
TF |
