re: ["The bears appear to be sleeping, I don't see that many bearish comments, and that adds to the issue."]
...Yo Roe:
$hhhhhh.... don't wake them.
The only "Bears" that we're going to hear from that matter - aren't on SI, but are spreading their Talking Points via the Larry Kudlow-Mouth Piece methodology.
They are the Commercials that just piled on short ...but, their timing will ultimately prove " Very Bullish" IMHO !!!
The oversold allotments under the Washington Agreement are a high potential/nearterm upside driver for Gold here....and this is something that few have picked up on.
Tocqueville Funds John Hathaway has... per his recent comments on MiningWeb:
mineweb.net
[""Even though trading houses in New York and Europe seem to find plenty of paper gold to trade in a knee-jerk fashion according to the news of the day," Hathaway insisted that physical gold supply "is extremely, extremely tight." The shorts on the CFTC indicate 757 tonnes of supply or one third of annual gold production, he said. "It's short because Central Banks have oversold their allotment under the Washington Agreement," he added.
To maintain an allocation of 500 tonnes, Central Bank flow is going to drop by 25% over the next three months, Hathaway projected."]
Also Fwiw....all of the Gold Threads have fallen off the SI Hot Lists.
There are still many, many, naysayers, non-believers or non-participants in this Bottom Formation and ensuing Rally for Goldstocks.
They constitute the pre-requisite Wall of Worry...and their coming "Re-Conversion" may serve as the ultimate fuel that propels the HUI thru that 200 dma.
In my opinion, climbing up & over that 200 dma Wall is Job #1 here and once we do - it will be onward & upward ~ with a Bullet !
But, I anticipate there will be a strong attempt to hammer-down the Larger Components of the HUI & XAU here.
.. the tape action on individual key indicator stocks (re: your RGLD monitoring)will be interesting here as the HUI/XAU fight their way up the 200 dma/Hamburger Hill.
In Anticipation of the HUI re-taking Hamburger Hill:
- Get on
- Be (very)Long
- Hang Strong
PS: the Crude Oil Story is getting very interesting from a Geopolitical perspective - with the CNOOC bid for Unocal & the ramp thru $60:
Message 21452886
I'm actually considering a New Hybrid-Electric Vehicle Purchase....gotta walk the talk after all (vbg).
Good Luck All,
$` |
