Tuesday, March 6, 2012
HUI down but bounces from support
Once again the HUI has managed to attract significant buying down at the lows signifying that the same buyers who have been busy accumulating gold shares for the better part of the last year are still apparently willing to add to their holdings on these dips lower in price. As long as this index closes the week ABOVE that lower red line, we remain within a range trade.
Well Dan,
ReplyDeleteOne of those guys is me. Since I went in at earlier this week at the lower end of the range, I figured well, what the hell, buy on sale NOW at the bottom of the range. Not much mind you but a few more shekels. I bet if the HUI breaks below the 480,it will be a quick and dirty..down to ??? 300? It is then goodbye to the stock market (Maybe we can touch that magical 6666 again about three days after the HUI crashes. The explosion will have been set off that Reggie Middleton and the Zero Hedge boys have been talking about for 3 years. Anyhow, my bet is that, everyone will print to avoid another March 2009 Stock market event. What say yee?
We can't possibly have a market meltdown now. I can hear the King telling his top Jester Timmy and Jester #2 Benjamin, come on guys where is the TEAM SPIRIT? I wonder how much additional TAX dollars they figure they can steal before they devalue every Americans savings to Zero. Time Value of money. Let the 60+ die with chaotic Health Care doctors. Take as much money from the payers into SS (4O+) then go Socialist.
ReplyDelete