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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (673)9/20/2005 11:28:09 AM
From: Chaka  Read Replies (1) of 50604
 

That the US Dollar is not endorsing this move of late AND that the HUI Goldstocks are NOT cheap relative GOLD... is the primary reason that I am a continued seller into strength here ...and how now exited my entire position in Gold stocks.

I thought the real bull market in Gold begins only when Gold rises in all currencies. This implies that Gold has to rise even when the US Dollar is rising - which is exactly what is happening.

Second, HUI is still relatively undervalued to Gold - historically, the Gold-HUI spread averages around 200. It is now around 220-225 and is shrinking. Shrinking is always a good sign since this implies the stocks are stronger than the metal (the stocks correctly anticipated this move over the heavy resistance level of $455 in gold).
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