"186 throws everything but the kitchen sink at you this week after last week's failed HUI rally attempt, jobs report and end of week bounce in the real price of gold. The blatantly positive precious metals sentiment backdrop (suicidal) currently in force and the 'RPG' looking set to take another leg up are ultimately positives for gold stocks. But the technicals are on balance, not good. So we have a developing battle between the contrarians and macro fundamentalists (I am raising my hand) on one side and the dumb chart robots (I am raising my other hand) on the other. So you can see why at one point in the letter the phrase "I am confused" shows up.
When I am confused I revert to risk management.
This week there was a lot that needed to be put out. This report labored and if you listen carefully you might still be able to hear it wheezing. Next week I look forward to getting back to a more concise report."
NFTRH186 out now.
http://www.biiwii.blogspot.com
http://www.biiwii.com
http://www.biiwii.com/NFTRH/subscribe.htm
No comments:
Post a Comment