Loading ...Gold Miners – One More Push ?
Unfortunately, I can’t see Rambus posts, but I love the way the HUI looks at the moment. The big question for me is can we squeeze another week or two out of this rally, or do we pullback as shown in the chart below ? Either way, it looks clear to me that 280 is written all over this, in the not too distant future, with a very significant move up after that.
“at this point, what difference does it make?” – The Hillary
(or whatever it is that she said).
The way things are going with debt creation and FIAT devaluation – none really.
Trying to discern by the trading action in the PM shares were due for a rise…JMO
Good chart, Northstar. Big fundamentals support these charts.
What a weird day! My PF (Plunger/Spock) is doing better today than all the last week.
Last week was an unhealthy week. There was a somewhat unattractive mixture here of negative commentary and great enthusiasm. In reality, although some of the PM stocks did well, all too many did not do so well. Despite much enthusiasm, there was a fair amount of red esp towards the end of the week.
I noted to myself that last week started with commentary from The Daily Gold (to which I do not subscribe and to which I expect never to subscribe–I prefer to do my own stuff rather than amassing subscriptions), “Near Term Risk In Gold is Increasing” https://goldtadise.com/?p=447930#respond (then hit the linked-to piece to read)
in which Jordan called the week ahead in precise and prescient fashion, suggesting that people might exercise caution in the imminent future.
So last week was odd, as some things were overextended while other things moved too far ahead.
Today and all this week might continue to be odd as the markets spasm around in reaction to the politics in Jackson Hole. There will be the gold price gyrations and the stock market gyrations I expect. The reaction of the PM stocks might again be all over the place. I feel a little queasy–not because of worries of it’s going down and going to stay down so much but rather because I’m not sure it’s going to make much sense for a few more days.
(As usual I’m looking to see if there’s something I should be unloading and I have an eye on something I might buy in the mini-chaos.)