LD: I wasn't able to transfer my IRA accts fast enough to get my bear funds cuz my prior bkr doesn't allow fund buying. So now i have to wait for a technical rally to buy rydex bear funds.
I'm fine in my trading acct of course, short a little, and waiting for opportunity to get more short.
HUI does indeed have support at 154 but no guarantee it will get there cuz the technical indicators are approaching oversold enough to base, but not yet.
If USD gets to 92, then HUI can reach 185, maybe 180, and that should have some support, though not that much. If USD breaks above 92 on a close, then 94 for dollar, and 154-160 for HUI is a possibility.
Bond rates hold the key, and i have been expecting 10 yr note yields to retest 4.6% by this summer, and it looks to do so in next 1-2 wks, then maybe a breather and a range between 4.4% to 4.6% which may give gold a chance to rally a bit. But later this year, i still think rates could go to 5%. |
