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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
Wednesday, February 29, 2012
HUI daily chart
I'd say Huey is at an important resistance point, wouldn't you? Make or break Huey.
Looks like the "smart money" loses again. GLD is going to close down 10+. The "dumb money" is getting rich chasing apple. Unfortunately, when this PIG of a market reverses, GLD is going to go down the tubes with it. You can't win with gold stocks unless you pick a lucky jr that finds gold.
Weren't you just talking about buying gold stocks the other day? Respectfully, I think you are not cut out for this racket if what you wrote above is serious.
Yes that was me. I don't panic and I don't chase. Still long the gold stocks. I was just pointing out that the "dumb" money that is currently long the SP500 and APPLE is winning while those who think they are "smart" money (myself included) are getting destroyed day after day. The problem is that this PIG of a stock market is going to implode and take down our beloved gold stocks with it. Just tired of seeing my accounts red daily for the past 12 months. In response to your post, I bought more NEM today.
Anon, I seriously hope you are not trying to manage your private account by reading this blog! And even there, NEM failed the support (for a day at least) that was shown on the chart here.
I take it you do not subscribe to the newsletter? This blog is not to be taken as analysis. It is no wonder the gold stocks are hurting you.
Listen, there is a lot in motion right now. If you do not know what you are doing and why, I would strongly suggest you back away and reevaluate. The gold bug captains tell the herd to stay long and strong. I am a big picture bull on the sector yes, but I take profits and rebalance all the time.
All I am saying is that you have noted this stock market vs. the PM's angst several times now. Please, make sure you are comfortable with what you are doing.
Looks like the "smart money" loses again. GLD is going to close down 10+. The "dumb money" is getting rich chasing apple. Unfortunately, when this PIG of a market reverses, GLD is going to go down the tubes with it. You can't win with gold stocks unless you pick a lucky jr that finds gold.
ReplyDeleteWeren't you just talking about buying gold stocks the other day? Respectfully, I think you are not cut out for this racket if what you wrote above is serious.
ReplyDeleteHi Gary,
ReplyDeleteYes that was me. I don't panic and I don't chase. Still long the gold stocks. I was just pointing out that the "dumb" money that is currently long the SP500 and APPLE is winning while those who think they are "smart" money (myself included) are getting destroyed day after day. The problem is that this PIG of a stock market is going to implode and take down our beloved gold stocks with it. Just tired of seeing my accounts red daily for the past 12 months. In response to your post, I bought more NEM today.
Anon, I seriously hope you are not trying to manage your private account by reading this blog! And even there, NEM failed the support (for a day at least) that was shown on the chart here.
ReplyDeleteI take it you do not subscribe to the newsletter? This blog is not to be taken as analysis. It is no wonder the gold stocks are hurting you.
Listen, there is a lot in motion right now. If you do not know what you are doing and why, I would strongly suggest you back away and reevaluate. The gold bug captains tell the herd to stay long and strong. I am a big picture bull on the sector yes, but I take profits and rebalance all the time.
All I am saying is that you have noted this stock market vs. the PM's angst several times now. Please, make sure you are comfortable with what you are doing.