Huey, etc.

We are back to the lonely theme here and this is comforting. In fact, the worse things have gotten in precious metals equities, the better I have felt and the more nibbling I am doing. The chart is of the HUI, and it of course sports some pretty nasty 'potential', but charts are just charts and by now every geek out there sees the H&S on the index (along w/ the likes of GG) and fear is once again riding shotgun. The red headed step children of the PM sector, the juniors and explorers - where most of my positions are - have been absolutely humiliated and sold out. The nasty 'potential' has been realized to a large degree. But I am a TA guy who is cursed with fundamental beliefs, which is of course not really a curse but a source of comfort and strength. I look forward to continued buying opportunities in the juniors and some select larger producers.

This support area could well hold as the HUI is a 'buy' relative to gold (check the HUI-Gold ratio). One caveat to this scenario however is that I am seeing our symmetrical triangle in gold being broadcast all over the place (including by me). EVERYBODY knows now that gold is in a 'bullish' sym-tri and the Dollar is getting over bought. Everybody knows. And in this crazy sector, dat ain't usually bullish. So I remain open to lower stuff to come in both the metal & the miners. But doods and doodettes, the big picture - especially if oil breaks down - is hyper bullish. IMO.