A quick reminder that if you are a committed gold stock investor who does not care about the short-term, and find these updates dealing in short-term affairs disturbing, please disregard.
With more strong data coming out of the US, the bull surge continues. Cyprus was so yesterday. Gold stocks are now firmly in the counter cyclical group (along with the Yen, T bonds and I guess Apple of all things).
I am not trying to tell anyone what to do in their own affairs, but I have got to note that this morning HUI is breaking the small trend off the bottom. We had noted this as a point that could turn the pattern into a bear flag.
This could reverse and go back up (i.e. it could be a whipsaw). It could only drop the index for a test of the recent lows or it could bring on the nasty things implied by the weekly chart we reviewed in NFTRH 231. Who knows which it will be? But we can state that thus far bottom calling and hope have not worked well and I for one plan to continue avoiding those two conditions.
Individuals should manage risk as they see fit. My stance is and has been to manage risk and be intact first and then ready for the opportunity – when ever it gets here.
