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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	11/8/2007 6:18:46 AM
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Are the ECB's hands tied? Interesting paradox the ECB faces... They're bitching & moaning about the pain their exporters are feeling from the strength of the Euro... and as much as they'd like to raise rates... their hands may be tied. = another potential catalyst for gold. And if they do hike rates, that equals a still stronger Euro vs. the Dollar...and a weaker Dollar = stronger gold. For the HUI gold stocks... This has been a poweful move and the trend is still intact. Former resistance at HUI 380 has held as support and ideally, the former highs of HUI 400 will hold here. Personally, I'm not giving anything back sub HUI 420 and I've been taking chips off into strength on each new upleg per the red circles. When you do some profit taking... take a piece of it and buy a couple of out of the money calls on pullbacks to minimize exposure to the pullbacks, but still retaining some exposure and leverage to further upside. There's 1 Trillion Dollars in Yen-carry money in this market and much of it is in commodities. When the broad market corrects - gold stocks have taken the hits as well. The key here will be for HUI 400ish - the former high, to now become new support. If it does... the run to HUI 520+ still looks doable. Technically, you can lock yourself in here via option straddles and then buy the next breakout above 450/460. It's been a great move... if the Fed is forced to bail out subprime/derivatives and chooses to prop up the markets... gold still has plenty of room to run. Just keep your eye on oil. Gold stocks till leading the pack... S.O.T.B. PS: Fannie finally rolled over. Let's see if the PPT defends the DOW's 200 dma here. It's going to get real interesting here.

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