................The Massacre Has Probably Begun

NEM appears to have made a breakaway gap to the downside today, opening at 50.10 versus yesterday's close at 50.91. The size of the gap, 81 cents, which is -1.59% below yesterday's close at 50.91, is why it's likely to be a breakaway gap.

The past eleven weeks and two days the NEM Lead Indicator is a very bearish -15.10% vs the XAU. See the one year NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=1y&l=off&z=m&q=l&p=&a=&c=%5Ehui,nem.

There shouldn't be much relief for longs until Wave A down of the Wave 2 Cyclical Bear Market (since 5-11-06 for HUI/XAU and since 1-31-06 for reliable lead indicator NEM) bottoms in the 100-110 range (XAU) in the next few weeks. For recent action see http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. ....... http://www.JoeFRocks.com/

HUI NEM XAU