Trade the Cycles

Wednesday, September 06, 2006

.......Reliable Lead Indicator NEM Is Plummeting

Reliable Lead Indicator NEM is plummeting, with a weak S & P 500 (SPX) being a huge factor since NEM is a component of SPX. NEM's high today was 52.08 and it's low so far is 50.74, which is near where NEM is now. NEM is dramatically underperforming the XAU again today (by well over -1.00% right now) which jives with the likely brutal multi week decline that may have begun today for HUI/XAU. For recent action, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c. ....... http://www.JoeFRocks.com/