Loading ...Baby HUI: “Rumours of my demise have been greatly exaggerated.”
Listen up gents. This is your friendly neighborhood gold bug speaking, and I’m here to tell you that it ain’t over until fat baby HUI sings. And now that the traders have sold all their gold stocks, having been convinced that the bear is back, mister gold bull can resume his work at long last.
Just look at this weekly arithmetic candlestick chart of the $HUI and you’ll see that it did not close below the bottom rail this week and neither did the GDX. Mr. HUI is still hanging on by a hope, a prayer, and one fingernail.
The gold stock bull market lives another week. Stay tuned.
Well said Mr Davis, I am with you.
Could go either way at the moment and we may well see another fall after an initial rise early next week, but equally the better stocks may just take off and leave many behind. Risk on, but that is the PM game 🙂
I am still holding a core of good stocks so lets see what happens in the autumn when the SM may hit reality!
I agree. I posted a few days ago that 183 was my ‘line in the sand’. It lightened up at that point, knowing that false breaks, and dhakeouts can occur. I posted the Williams %R situation (very oversold). Had we broken to 179 I think I would’ve sold all but a handful of my core position. This close within the triangle tells me we still have a chance to break upwards. Being so oversold makes this more of a possibility.
And the China Goldsmith’s almanac says gold’s ascension begins from 5 May till early July and that kind of agrees with Bradley. Would you believe that?