Well, the power outage continues... and the gold miner rally continues as well. All doubts about a bottom should be long since erased. I have done some pretty decent profit taking this morning to get cash levels back up to normal and am extremely pleased that both portfolios are either near or above 'baseline' for the first time since NFTRH's first week. I feel as though my trading intuition is coming back in line. I guess 'normal' is the word. However...
The gold stocks are getting a bit pumpy to the upside and Uncle Buck's decline is sharper than I anticipated. This, to me, bodes longer term bearish for the Dollar but a reaction UP can happen at any time. Momos are doing what they do and getting excited about the gold miners and that usually ends badly as they are uncommitted to begin with and when the reaction comes, they are weaklings to the extreme. I plan to buy any volatility that may be upcoming.
It may be Wednesday or so before I am able to publish so what I think I will do is send out a very detailed email update this week instead of NFTRH as it will be a more streamlined way of hitting the important points once I get access to all my resources. But I did want to make the note here that HUI is flirting in that HUI 300 area and profit taking is never a bad thing. Everyone's goals and methods are different but we should all know that HUI has nearly doubled in the short amount of time since it bottomed. I do remain intermediate bearish the Dollar, UN-bearish the stock market and very bullish the gold miners however, any near term USD inspired reactions nothwithstanding. Good luck.
