Friday, July 6, 2007
With regard to the most recent chart of HUI, today we have that strong move above 340-345. As such, our trading account cash level has shrunk accordingly with the addition of a nice position in a primo intermediate miner that fell from grace (not for long I think) and looks to be putting in at least a short term bottom. The 'managed' ports maintain their guarded stance with core miner holdings among many defensive positions. Also note that an intra day move is not a daily or WEEKLY close. A few more hours and we'd have a nice weekly break above resistance.