"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, March 9, 2011

HUI - What, you expected it to go straight up?

Huey is in a bull market; a major one.  This is the case as long as weekly MACD and TRIX remain in positive territory.  Huey has also been the recipient of some unhealthy holders with all the noise of QE and revolution in the markets lately.

Huey got extended beyond reasonable moving averages and as usual, increased my caution level.  Not that I did much of anything about it, outside of some hedging and cash management.  There is a game plan in play and it calls for a flushing of the momos and potentially some grinding around with the epic breakout zone.  It's the markets after all and nothing, but nothing, comes easy.

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