Larry,
I haven't noticed gold vs. the Nasdaq specifically, but gold and the other averages have started moving up together beginning last April; they no longer necessarily have to move in opposition to one another. Also, the market cap of MSFT alone is four or five times greater than the market cap of all gold stocks, so if the Nasdaq is going to rally, it needs a lot more than gold bugs on board. -g-
101 looks like very good support on the HUI at this point; not a bad-looking chart:
stockcharts.com[l,a]daclyyay[pb50!b200!b20!h.02,.20!d20,2][vc60][iUb14!Ll14!La12,26,9!Lg!Lp14,3,3!Lf]&pref=G
Gold stocks have resisted my timing efforts for the last six months or so - HGMCY and GOLD are up 20%-30% from the last time I lightened up on them - so I need to see a significant breakdown before I part with more shares.
That said, I've got plenty of cash on hand, so I hope I have the brains to catch any good rally in the Nasdaq too. -g-
Paul |
