valutrader, The HUI's triangular development
Below is an almost one year chart of the HUI where the triangle you refer to is very obvious. Looks like today was a new closing high…The turn at 142 just above the key 50 day ema and right where the RSI and DMI were about to give bearish signals is quite constructive indeed.,..imho.
I'll side up with your view that it's up one way or another....unless yesterday's lows give way. I think stops can go right in at yesterday's lows right across one's miner portfolio.
stockcharts.com[h,a]dbcaynay[d20020304,20030204][pc50!c200!c20!c13!f][iut!Ll14!Lb14!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G
On Murphy, as I read him almost daily, and have for years ever since he started up here on SI on the Dutch Auction thread, I find him to be more than the usual broken clock that is occasional right. His thesis about manipulation, his observations as to how it has worked, and his insistence that this bull was more than being about IRAQ put him out in front of the gold bug crowd. His contribution of PM investing education is just about unmatched in the last several years. Suspect you are right he'll not give a sell signal and that is something all who listen to him ought to be aware. But in a long term bull, you only need to be right once about selling....
You know in order to correct the wishy washy impression I seem to have left for some, perhaps its well that I admire somebody about whom there is no question about his views. I'm wary, however about broken records, too. |
