This chart:
finance.yahoo.com
indicates that gold stocks will continue to move up, and move a long ways, over the next several months.
Reading SKI:
"Current prices remain way above any of the SKI indices, indicating a very over-bought condition. But again, it is exactly under these conditions (the "breaking" of the last 16-20 index sell signal) that overbought should become even more overbought (moving from three standard deviations to five standard deviations overbought). The recent rise off of the 7.38 low is only 6 days old! It should have lots more to go in terms of time (guessing a month more) too. I've read lots of systems and prognosticators calling for some meaningful high in late December. Although it's usually not good when many people are calling for similar things, I've still got my hat in for a mid-late December time for me to sell. I'll explain that in a few weeks if this up-trend indeed rises into that time period."
Note that the USERX can not rise without a compensatory rise in the HUI.
Now read this,compliments of Bob Hoye:
"Meaning: The widening of representative Asian spreads and the breakdown of the Tokyo bank index suggests that another financial crisis is brewing up. Sharply diminished flows into the U.S. equivalently diminished liquidity.
Given the remarkable speculation over the past 13 months, another global financial crisis is developing."
The evidence continues to suggest that the HUI counts I have posted are too conservative. This is the alternate count that I recently referred to, that I was working on. It may not be an alternate - it may be the real thing. This count suggests the HUI is in a iii of 3 for this wave, having just started that iii of 3, and that this wave has a LONG ways to go. This is unbelievable, and yes bullish, but what can I say. The evidence is presently increasing as to its validity.
This count also would suggest an end of the iii of 3 sometime late this year.
ttrader.com\'s%20charts&id=427&d=2 |
