It has been a classic washout in the gold stock sector, but if positioned correctly opportunity is setting up The ‘macro’ and sector fundamentals have been incomplete (details beyond the scope of this article, but they are not the easy, low hanging fruit that many in the ‘gold adviser’ herd focus on). The technicals have advised a downtrend since mid-2020 with the exception of one … Continue reading Gold Bug survivors prepare to capitalize
The HUI Gold Bugs index continues to sink [edit] I think it’s worth adding that the risk vs. reward in quality gold miners is very positive now, regardless of price. RvR could take some time to be expressed, but that oversold reading plus those (likely) capitulating gold bugs spell positive risk/reward in the face of the almighty hawking Fed. And who is surprised? Well, you … Continue reading Huey’s cart of rocks headed downhill [w/ edit]
There is no excerpt because this is a protected post. Continue reading Protected: NFTRH+; interesting weekly gold miner charts
The ‘HUI 212’ gap is filling today. Anything below 213 fills it and Huey’s low today is 212.65. That’s the good news. The gap is out of there. The not so good news is that HUI is below support and in an ugly daily chart pattern. Also, in the event that the inflation trades take a major hit and we flip from inflationary hysteria to … Continue reading NFTRH+; nagging gap filled
Who is surprised that the inflation bugs are selling gold stocks? Now a favored plan may be kicking into gear. That plan would see future buying from the miserable hands of those that listened to the loudest, most greed inspiring gold/inflation bugs at the gold websites, Twitter, Reddit forums and various other pump stations. If you bought gold stocks because… INFLATION! You bought wrong. It … Continue reading As inflation expectations continue to roll over, so do the gold miners
HUI is back above the 235 marker after ticking a slight lower low this morning. From the last update… So for functional purposes let’s refine it to last week’s lows at 235. Even there, an index can spike lower, shake you out and proceed upward. But in general, if HUI 235 (actual: 234.56) were to be lost, and stay lost, a negative marker would be … Continue reading NFTRH+; HUI update
Ladies and Gentlemen, behold inflationist gold bugs’ handy work It never fails. On a day and during a week when industrial metals (incl. Doctor Copper), Agricultural commodities, outlier commodities and even the last inflated man standing, Energy commodities are down, and inflation expectations dropping so too are the gold miners. The same gold miners that should never be thought of as part of the inflation … Continue reading On a day when inflation trades sink, the gold miners sadly but predictably do too
In NFTRH 710 it was noted that HUI 240 area was a line in the sand to a more bearish near-term view. I just want to clarify that nothing is absolute in the markets or in TA. So for functional purposes let’s refine it to last week’s lows at 235. Even there, an index can spike lower, shake you out and proceed upward. But in … Continue reading NFTRH+; Refining the zone for HUI
We dug up a reason to at least have a little healthy caution about gold (the gold price that is; I never worry about the actual metal and its value proposition) and now I want to dig up another on gold stocks, and in particular the HUI index. It’s something I’ve mentioned before, but probably not often since the 2020 crash as a potential downside … Continue reading NFTRH+; Devil’s advocate on gold stocks
As the macro shifts in favor of gold (rising vs. stocks, industrial metals, silver, most global currencies) and risk in the broad markets goes firmly ‘off’, the main holdout continues to be mining cost driver crude oil/energy. Combine this with the fact that some of the hardest declines in gold stocks come when other markets are liquidating, we have valid reasons for the current gold … Continue reading NFTRH+; gold mining fundamentals & HUI technical situation
HUI Gold Bugs index on the bull theme As Huey pushes his cart of rocks uphill. Back in December we not only projected 2022 to be a golden year for the yellow metal, but given the right macro circumstances, for the companies that dig it out of the ground as well. While the macro is still technically in transition, the signs are there. Meanwhile, Huey … Continue reading Gold stocks hanging tough as the macro slowly shifts
Yesterday FOMC laid a small, dovish egg on markets that needed something more. Sole abstainer James Bullard wanted .50 instead of the .25 that came. The problem being that the Fed is well behind the bond market in fighting the inflation it created. Again we note the 3 month T-bill yield, which almost always goes in lockstep with Fed policy. Well, not this time. I … Continue reading NFTRH; Gold, Silver & HUI (& some miners)
From the weekend online edition of NFTRH, #696… We reviewed the bullish objectives for gold, silver and the miners (HUI) in the second segment. The week closed with that status, but also with the same risks involved. Gold has taken the other side of the fear trade as the headline indexes drop (pending the labored bounce) and fear envelops the planet. Insofar as current TA … Continue reading HUI joins gold in hitting target
Gold hit its short-term target of 2000+ yesterday. Today HUI has hit its short-term target of 325. Silver is at 27.18 (vs. a target of 30 +/-). Recall that my plan (certainly not necessarily your plan, as we all operate on different time lines, parameters and risk tolerances) was to raise cash into next week’s FOMC meeting. The targets above certainly do not need to … Continue reading NFTRH+; another target registered
