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« James Turk – A Major Gold & Silver Short Squeeze May Unfold On This Stunning Announcement | Main | Monetary Stimulus Does Not Work. The Evidence Is In »

Gold Mining Stocks Still in Weak Hands (Part Three)


On days like this I feel like a script writer for a soap opera:

“Previously on Desperate Investors………..” you get my drift as we recently wrote:

This is a capitulation of sorts, but it may not be final at this point. The selling of this sector creates more selling as the stops are hit on the way down. Investors lose heart and decide to end the pain and make no mistake this is painful

There is blood in the streets but I’m not sure that this particular bloodbath is over just yet. 

When we penned part two of this post the Gold Bugs Index (HUI) stood at 146 having suffered a rapid fall from the 180 level. This was a capitulation of some form but by no means a final one. An extremely oversold situation then existed, and a rebound followed taking the HUI back up to the 150 level. Had all of the weak hands been shaken out, no not really, this mini rally was used by nervous gold bugs to unload their positions. The HUI promptly fell back to a sub 140 level.

The Chart of the HUI

Click here read to whole article:        MORE.........

The inverse relationship between gold and the dollar is alive and well so watch the Fed like a hawk.

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