HUI to SPX ratio updated

The decline in 2008 in gold stocks vs. broad stocks was around 60% before a massive snap back reversal led Hope '09 out of the depths of Armageddon '08.  Today we are 48%. 

Today we also have a completely different fundamental backdrop (real price of gold much higher even after the last half a year of downward consolidation) so one wonders if this ratio need get to 60% this time.

Hey, it's just one tool in the tool box (among so many we must watch) and it says gold bug survivors will eventually get paid.  It's the surviving - a detail that some people seem to forget - that has been the important part.

http://www.biiwii.blogspot.com
http://www.biiwii.com