Having fun yet? Gold, silver & HUI to targets

Gold hit the lower target (1550) in pre-market and fully satisfied the 'preferred' target (low-mid 1600's) during the regular session.  Silver?  What is there to say?  This wild man finally hit a potential target NFTRH first established in the spring, by declining below 30.  It is good to have this out of the way.

It is not to say all is rosy from here, but it is to say that we have gotten rid of the whole lot of damned lousy sponsors that came aboard the precious metals (esp. gold) during the hype of the summer.  Good riddance momo's.  Risk vs. Reward is now in line for gold and gold stocks.  Silver's RvR is obviously better now than it was a week or two ago, but I still have my suspicions about this cross-dressing precious metal (did not stop me from adding a premium Ag miner).

Now back to managing what should be an interesting October.  There is so much going on and you'd better be watching T bonds and you'd better be on your game with the 2008 comparisons flying around. 

I am glad I took profits on short positions on Friday and let the gold stocks run free for a bit.  For the last couple weeks - since the the HUI 610 breakout came under threat - I have been updating subscribers on some lower support levels we might have to manage, including 525.  Ding. 

Ain't this fun.  You have got to love the markets. 

BTW, this is how I write on the blog.  The newsletter is a different matter, sans the bravado - or whatever that is above.  Risk management is going to be key for a while longer I think.  Meanwhile, I am using this time to tweak and upgrade the quality of the portfolio.  Whatever... a good day.  Actually a good last week.  A lot of good things have happened, whether or not that appears outwardly obvious.

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