Monday, June 25, 2007
No chart, just two eyes
With the lower high on the HUI & XAU, one must consider the possibility that this thing is running out of steam and prepping for lower levels. The gold stocks seem to be drifting in the stock market's wake and I don't like where the stock market is headed... not one bit. So it's back to a modest core of holdings and lots-o-cash. Others braver than this blogger can play hero. While the HUI weekly chart does not look particularly bearish, it does define very strong support at our oft-mentioned 250-270.