Gold, Oil the Dollar, the HUI & SOROS
SOROS
Filing the following observations after reading your wisely counseled admonishment to the near sighted amongst us does seem a bit ephemeral. However, optimizing the timing of new money deployment and perhaps even successfully taking profits at the significant turns, where declines run 33%, is the purpose to which I put the following hopefully consistently based technical indicator review.
Bottom Line: as the Western World's financial system goes to hell in an hand basket little signs along the way will continue to reveal when and how best to profit. Whether we see them and act properly are two additional matters. More simply being flat fully invested in gold stocks, right here, may prove, in retrospect, to have been the absolutely best investment strategy given a wide range of measures. Has been for the last couple of years. Is the timing now to have the pedal to the metal.?
Percentage R and RSI looking up on Dec Gold.
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Highest close in seven days, Friday by Dec Gold.
Crude breaks. $24 ahead?
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Dollar hanging at 108
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105 on the US Dollar index and slightly below would have been a logical stopping place on the first leg down of the dollar's being overvalued. We've had the bounce back up. Been steady for a while. Would think the next move would be with the current trend, which I'm assuming is down. Note, however, the wave structure in the rebound of the last several weeks. Is it a five way impulsive move (as opposed to a three way corrective)??? If impulsive it has one last hooray, the fifth leg, then down by an amount unknown. 110 to 105 trading range a longer term prospect.?
Regards The HUI, have to say a convincing turn up in trend is yet to be made. One is close but as likely are lower prices. The PPO is basing and about to go green in the histrogram.. The DMI indicator is still in a bearish configuration though the red and green lines are pinching. No lower low was made during the week. The index finished slightly higher on the week but again below the 200 EMA.
Clearly what is needed is some upward momentum. Gold over $314.50 cash would probably do it. Short of our seeing some closes at or above that level real soon, I see the HUI coming off again, providing a more favorable buying opportunity.
Daily
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Weekly - in the longer view PPO is still down, DMI is in negative configuration and the Ultimate is falling and below 50. If gold stocks were really banana plantations, I would not own any of them based on this HUI chart. The trend is weak. I'd change that opinion even about banana plantations if we see some of those $315 numbers again and 115+ prints on the index. More likely 105 first, enroute to 87-88, the nephew perhaps of the mother of all buying opportunities.
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