Meanwhile, the gold stocks have sported a bullish divergence by 60 min. chart, which was sent to NFTRH subscribers this morning. It holds the short term parameters on whether bull potentials can be mustered in the gold sector. This, after a weekly chart was sent reviewing the important bigger picture parameters. Analysis of the entire broad market situation accompanied that one.
You know, this is not about putting on guru hats, guessing, predicting and waiting to tout. It is about parameters, balance and the ability to juggle a lot of components in the air all the while maintaining a sensible plan. I think NFTRH is doing that pretty well.
In October we separate the men from the boys and the survivors and thrivers from the robots.
Edit (2:31) Took excellent profit on the junk bond bear SJB and severely diminished profit on QID. Still holding SDS and TWM, as the bear case is not dead.
Edit (4:00) Ding ding ding ding... Short free, cash rich and nicely green on a high quality core of gold stocks. SDS and TWM are booked for good profit and a small loss respectively, and all shorts are undone for excellent profits overall, while providing decent protection for the portfolios. This does not mean I am full bull yet, although the HUI did something rather good today (and yesterday for that matter). But I now choose to manage risk through healthy cash until such time as another low risk shorting opportunity should manifest.