Gold Stocks

First off, here is miner 3x bear DUST again with the 60 min. chart getting its bearish look compromised as it rises above the right side’s would-be shoulder.

dust

This is apparently in sympathy with commodities, which are getting hammered again on weaker US manufacturing (catch the prices component of ISM?) and the general malaise in the global economy.  A deflationary boogeyman is out there somewhere.  Why, even stock markets are reacting badly.

The gold bugs being addressed now are the ones obsessing on inflation, the ones afraid of a strong dollar.  While it is unpleasant until a bottom is found, if this keeps up we will be in exactly the right situation for buying this sector.  If only the stock market will do as I think it may and weaken to the degree that it actually gives bullish casino patrons something to think about, then the macro fundamental backdrop might start coming along.

BTW, check out some gold-commodities (esp. gold-oil) ratios today.

Public readers, please do not interpret this post as bullish on the gold sector.  I am merely stating that the components may be coming into place after all this time noting (against the bullish hype about Ukraine, Ebola, Greece, etc.) that the macro funda are not in line.

But there are 2 lower targets on HUI (a new one introduced this week), one or both of which I thought might come about in the fall.  But the way things are going, you never know.  Maybe August is the big month in markets.  I simply don’t know.

We’ll be managing that stuff in NFTRH and man, we deserve this if it does come to a head.  My patience, with both the regular stock market and especially the wrong-headed factions of the gold bug “community” (which IMO is the majority of them) has felt like an eternity.  The time is coming to know what you’re doing and why you’re doing it.  If you have surrendered your critical thinking to an expert why, you won’t be able to do that.

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