As stated several times (can't remember whether it was here or in NFTRH or both), I am bullish. What made me so? Ongoing bullish divergence in many markets, deplorable sentiment and unsustainable hockey sticks (US Dollar, gold-silver, gold-gyx, gold-oil ratios). What has also contributed is the bipolar media, scaring the public 24/7 with the gory (and very real) details. The media is 'on the job', masters of the obvious after it is too late to effectively prepare and just in time to spur a lot of emotional mistakes. I suspect that emotional mistakes were made the world over in October and especially November, when rational market watchers should have been on 'retest' alert.An important distinction; While I now own things like oil, a Canadian Royalty Trust, and Asian stock fund and a favorite stock from the good old bull days that has been hammered back down to a reasonable valuation, I personally believe this is just a cycle of bullishness created by unsustainable bearish sentiment. I am not an investor in most things, although some pretty smart people do perceive bargains for the long term. I remain an 'investor' in only one thing; quality miners of gold. But even there I may get a little cute with some trading, but not too cute.
As such, here is the HUI once again, due for a pullback to refresh but healthy in so many ways that a pullback to 200-210 might be viewed as a nice buying op (although we cannot rule out a mere retest of the 225 visual support) by like-minded investors or traders. Of course, most of the world is sidelines worshipping their cash just like they are supposed to be.
