............HUI/XAU Might Have Peaked Yesterday
HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui) might have hit a Wave 1 Cyclical Bull Market (since late 2000) and a minor intermediate term (began 8-16-07) cycle high yesterday. Looking at HUI's cycle highs since the cycle high at 402.27 on 9-21-07, they are flattening out/rolling over (http://stockcharts.com/charts/gallery.html?%24hui), which is a sign that HUI is peaking.
Because the NEM Lead Indicator turned bullish/became much less bearish (gap narrowed dramatically, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem) near session's end and the WMT Lead Indicator was a very bullish +1.45% versus the S & P 500 (SPX) today I didn't hold a short GDX (Gold Miners ETF) position overnight.
HUI did a significant intraday Wave A down type move early yesterday, followed by a countertrend Wave B type move the rest of the session, then did a Wave C down type move today that might have bottomed near session's end, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c.
Reliable lead indicator NEM has an upside gap from today's open at 47.67 that I'll be watching tomorrow. NEM hit a session cycle low late today at 46.02, shortly after filling last Friday's downside gap at 46.17, see http://finance.yahoo.com/q/ta?s=nem&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. Often cycle highs/lows occur shortly after gap filling action is completed.
Tomorrow NEM may try to fill today's upside gap at 47.67, the XAU may try to fill today's upside gap at 185.46, and, GDX may try to fill today's upside gap at 49.84. Assuming that GDX fails to fill today's upside gap at 49.84 I'll be looking to go short GDX tomorrow. Obviously, I'll probably be waiting until after the Fed rate decision at 2:15ish pm EST. A quarter point/0.25% Fed Funds rate cut is likely.
NEM has unfilled downside gaps at 42.29 and 41.52. The XAU has unfilled downside gaps at 177.20 and 169.69. GDX has unfilled downside gaps at 47.45, 46.62, and 45.53.
Much of HUI/XAU's gains on Friday/Monday came during very brief spike moves at the open. Spiking action is obviously peaking action.
The NEM Lead Indicator was a very bearish -1.46% versus the XAU yesterday/10-29 and was a neutral -0.01% today, see http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem, which is obviously a major negative.
The NEM Lead Indicator = an extremely bearish -18.33% versus the XAU the past 44 sessions, see six month NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem, which is obviously a major negative.
Thursday's massive $31 Billion credit injection by the Fed (http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE) was probably a major factor behind the market's strength in recent days prior to today, due to strong program buying. A year ago $15-20 Billion was a massive credit injection for punch spiking Thursday. In recent months it's been about $30 Billion due to the credit/mortgage crisis.
The only reason that HUI/XAU took out their 5-11-06 cycle highs was probably the huge M2 money supply spike in August due to the mortgage/credit crisis, see http://tradethecycles.blogspot.com/2007/10/huge-spike-in-m2-money-supply-occurred.html.
The NEM Lead Indicator and the gold COT data are extremely bearish. In the next week or so I'll be looking to aggressively short the precious metals sector via GDX, the Gold Miners ETF, that closely tracks HUI, and aggressively short RUT via TWM, the Ultra Short Russell 2000 (RUT) ETF.
The WMT Lead Indicator was a very bullish +1.45% versus SPX today/on 10-30, and, was a bullish +0.46% versus SPX yesterday/on 10-29, see http://finance.yahoo.com/q/ta?s=wmt&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
SPX (S & P 500) entered a countertrend Wave B upcycle early on Wednesday 10-24-07 (http://stockcharts.com/charts/gallery.html?%24spx) and put in a likely Cyclical Bull Market cycle high at 1576.09 on 10-11-07.
SPX's countertrend Wave B upcycle (and RUT's (Russell 2000), which began on Monday 10-22-07) might peak at about the time of Wednesday 10-31-07's Fed rate decision. There should be an Elliott Wave 12345 up down up down up pattern on the daily chart (http://stockcharts.com/charts/gallery.html?%24spx).
TWM did a big short term Wave 1 upcycle that peaked at 68.69 on Monday 10-22 when RUT's Wave A (probably) bottomed, see http://stockcharts.com/charts/gallery.html?twm. I'll be looking to buy TWM when the short term Wave 2 downcycle bottoms some time in the next few days to a week.
RUT's (Russell 2000) short term countertrend Wave B upcycle should do an Elliott Wave 12345 up down up down up pattern for a few days/weeks. I'll be looking to go short shortly after I think Wave 5 of the short term Wave B has peaked.
Notice that the Russell 2000 (RUT, http://stockcharts.com/charts/gallery.html?%24rut) probably peaked in July at 856.48 versus a countertrend Wave B cycle high at 852.06 on 10-11-07, so, RUT is in a substantial Wave C type decline that should bottom well below the Wave A cycle low at 736.00 on 8-16-07. If RUT bottoms at 700ish then it has about 18% to fall from it's countertrend Wave B cycle high at 852.06 on 10-11-07.
The S & P 500 (SPX, http://stockcharts.com/charts/gallery.html?%24spx) is up all of 1.30% from July 2007's cycle high at 1555.90 to 10-11-07's likely Cyclical Bull Market cycle high at 1576.09, thanks to massive Fed credit due to the mortgage/credit crisis. Once the market/SPX breaks down nearly sectors will get whacked. SPX actually broke down a few months ago, hitting a 5% major sell signal, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html, and, the recent strength was rollover action, which was the upcycle/Cyclical Bull Market since October 2002 running out of gas. What was going on in the market was very important peaking action.
The reliable WMT Lead Indicator is extremely bearish, see the six month chart (shows WMT, SPX, HUI relative performance) at http://finance.yahoo.com/q/ta?s=%5EHUI&t=6m&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The point of sell signals is much more to indicate that risk has increased dramatically than it is to be a psychic nailing every cycle high. Double and even triple tops are fairly common, as is rollover action with modestly, and, much less frequently (especially for major 5% sell signals), sometimes substantially higher cycle highs occurring. SPX's (S & P 500) 5% major sell signal, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html, indicated that July's cycle high at 1555.90 was a likely/potential Cyclical Bull Market cycle high, and, more importantly, that trading SPX long was risky, because, a very important cycle trendline had broken down.
The recent gold COT (Commitments Of Traders) data is extremely bearish, see the last/third data at http://www.cftc.gov/dea/options/deacmxsof.htm. The savvy non contrarian gold Commercial Traders traded significantly net long in the five day period ending 10-23-07, correctly anticipating the recent strength, after having gone massively short the prior six weeks, covering 5567 short gold futures and options contracts (adding 19,360 two weeks ago, added 16,788 three weeks ago, added 1751 four weeks ago, added 27,946 five weeks ago, added over 17,000 six weeks ago, and, added a massive 53,207 seven weeks ago), while adding 9632 (added 5075 two weeks ago, liquidated 192 three weeks ago, liquidated 5492 four weeks ago, liquidated 2977 five weeks ago) long gold futures and options contracts.
For all practical purposes HUI's Wave 1 Cyclical Bull Market ended on 5-11-06 at 401.69 (XAU at 171.71). HUI/XAU/gold have only risen about 8-9% from 5-11-06 to the recent cycle highs. Technically HUI/XAU's Wave 1 Cyclical Bull Market is peaking in dramatic rollover mode versus 5-11-06's cycle highs at 401.69/171.71 (http://stockcharts.com/charts/gallery.html?%24hui).
Once a sell signal occurs it's time to exit. Actually, I hopefully exit earlier using the Elliott Wave count. The 5% major sell signal, see annotated charts 15 and 18 at http://www.joefrocks.com/GoldStockCharts.html, that occurred in May 2006, correctly indicated that it was time to turn bearish on HUI/XAU.
The NEM Lead Indicator is BIG TIME SCARY. The NEM Lead Indicator = -0.01% versus the XAU today/on 10-30, -1.46% on 10-29, +0.09% on 10-26, -0.72% on 10-25, +0.32% on 10-24, -1.33% on 10-23, +0.91% on 10-22 (yes, same as Friday), +0.91% on 10-19, -0.88% on 10-18, -2.00% on 10-17, +1.11% on 10-16, -0.31% on 10-15, -0.19% on 10-12, +1.62% on 10-11, -1.28% on 10-10, -0.25% on 10-9, -0.06% on 10-8, -0.57% on 10-5, -1.17% on 10-4, +0.37% on 10-3, +1.35% on 10-2, +0.33% on 10-1, -0.41% on 9-28, -2.21% on 9-27, -4.13% on 9-26, +0.40% on 9-25, +2.03% on 9-24, +0.07% on 9-21, -1.46% on 9-20, +0.69% on 9-19, -2.33% on 9-18, -0.53% on 9-17, +0.12% on 9-14, -1.34% on 9-13,+0.02% on 9-12, +0.25% on 9-11, -0.69% on 9-10, +0.42% on 9-7, -1.39% on 9-6, +0.06% on 9-5, -1.81% on 9-4, -0.98% on 8-31, -0.03% on 8-30, -1.86% on 8-29 = an extremely bearish -18.33% versus the XAU the past 44 sessions, see six month NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
A brief rockets summary (none are recommendations, just timing examples/info):
Because a major market downcycle has begun one has to be very careful about trading rockets right now (should be very careful anyway with rockets), if one trades them at all. Generally it's a good idea to trade with the wind/market at your back. Trading long in the midst of a major or even minor downcycle is risky.
Some new rockets I'm watching are TMY (http://tradethecycles.blogspot.com/2007/10/transmeridian-exploration-inc-tmy.html), Titanium Metals Corp (TIE, strong insider buying), VLNC (strong insider buying), PKTR (insider buying), Linux Gold LNXGF (new Cyclical Bull Market).
Spicy Pickle (SPKL.OB, http://stockcharts.com/charts/gallery.html?spkl) needs to do an Elliott Wave ABC down up down monthly downcycle for about a week before I look to trade it long. I'm excited about trading this one. I probably will trade this one once it does a monthly downcycle.
Lincoln Gold, LGCP.OB (http://stockcharts.com/charts/gallery.html?lgcp) looks good once it does an Elliott Wave ABC down up down monthly downcycle for about a week.
I'm "imminently" looking to/might buy VG (Vonage) for a short term Wave 5 upcycle 1 to 2 week trade (trade a Wave 5 short term upcycle of a monthly upcycle).
I'm looking to trade a tiny ICO (http://stockcharts.com/charts/gallery.html?ico) position once it does Elliott Wave ABC down up down monthly downcycle.
Cycle trendlines/channels used in concert with Elliott Wave patterns and gaps are the basis/crux of "Trade the Cycles." "Gaps action" is very important.
If one decides to trade volatile stocks/ETFs obviously paper trade for a while or trade very modest positions at first.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU. Those are the targets for where the Cyclical Bear Market will bottom. NEM's Wave 2 Cyclical Bear Market began on 1-31-06. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Because the NEM Lead Indicator turned bullish/became much less bearish (gap narrowed dramatically, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem) near session's end and the WMT Lead Indicator was a very bullish +1.45% versus the S & P 500 (SPX) today I didn't hold a short GDX (Gold Miners ETF) position overnight.
HUI did a significant intraday Wave A down type move early yesterday, followed by a countertrend Wave B type move the rest of the session, then did a Wave C down type move today that might have bottomed near session's end, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c.
Reliable lead indicator NEM has an upside gap from today's open at 47.67 that I'll be watching tomorrow. NEM hit a session cycle low late today at 46.02, shortly after filling last Friday's downside gap at 46.17, see http://finance.yahoo.com/q/ta?s=nem&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. Often cycle highs/lows occur shortly after gap filling action is completed.
Tomorrow NEM may try to fill today's upside gap at 47.67, the XAU may try to fill today's upside gap at 185.46, and, GDX may try to fill today's upside gap at 49.84. Assuming that GDX fails to fill today's upside gap at 49.84 I'll be looking to go short GDX tomorrow. Obviously, I'll probably be waiting until after the Fed rate decision at 2:15ish pm EST. A quarter point/0.25% Fed Funds rate cut is likely.
NEM has unfilled downside gaps at 42.29 and 41.52. The XAU has unfilled downside gaps at 177.20 and 169.69. GDX has unfilled downside gaps at 47.45, 46.62, and 45.53.
Much of HUI/XAU's gains on Friday/Monday came during very brief spike moves at the open. Spiking action is obviously peaking action.
The NEM Lead Indicator was a very bearish -1.46% versus the XAU yesterday/10-29 and was a neutral -0.01% today, see http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem, which is obviously a major negative.
The NEM Lead Indicator = an extremely bearish -18.33% versus the XAU the past 44 sessions, see six month NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem, which is obviously a major negative.
Thursday's massive $31 Billion credit injection by the Fed (http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE) was probably a major factor behind the market's strength in recent days prior to today, due to strong program buying. A year ago $15-20 Billion was a massive credit injection for punch spiking Thursday. In recent months it's been about $30 Billion due to the credit/mortgage crisis.
The only reason that HUI/XAU took out their 5-11-06 cycle highs was probably the huge M2 money supply spike in August due to the mortgage/credit crisis, see http://tradethecycles.blogspot.com/2007/10/huge-spike-in-m2-money-supply-occurred.html.
The NEM Lead Indicator and the gold COT data are extremely bearish. In the next week or so I'll be looking to aggressively short the precious metals sector via GDX, the Gold Miners ETF, that closely tracks HUI, and aggressively short RUT via TWM, the Ultra Short Russell 2000 (RUT) ETF.
The WMT Lead Indicator was a very bullish +1.45% versus SPX today/on 10-30, and, was a bullish +0.46% versus SPX yesterday/on 10-29, see http://finance.yahoo.com/q/ta?s=wmt&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
SPX (S & P 500) entered a countertrend Wave B upcycle early on Wednesday 10-24-07 (http://stockcharts.com/charts/gallery.html?%24spx) and put in a likely Cyclical Bull Market cycle high at 1576.09 on 10-11-07.
SPX's countertrend Wave B upcycle (and RUT's (Russell 2000), which began on Monday 10-22-07) might peak at about the time of Wednesday 10-31-07's Fed rate decision. There should be an Elliott Wave 12345 up down up down up pattern on the daily chart (http://stockcharts.com/charts/gallery.html?%24spx).
TWM did a big short term Wave 1 upcycle that peaked at 68.69 on Monday 10-22 when RUT's Wave A (probably) bottomed, see http://stockcharts.com/charts/gallery.html?twm. I'll be looking to buy TWM when the short term Wave 2 downcycle bottoms some time in the next few days to a week.
RUT's (Russell 2000) short term countertrend Wave B upcycle should do an Elliott Wave 12345 up down up down up pattern for a few days/weeks. I'll be looking to go short shortly after I think Wave 5 of the short term Wave B has peaked.
Notice that the Russell 2000 (RUT, http://stockcharts.com/charts/gallery.html?%24rut) probably peaked in July at 856.48 versus a countertrend Wave B cycle high at 852.06 on 10-11-07, so, RUT is in a substantial Wave C type decline that should bottom well below the Wave A cycle low at 736.00 on 8-16-07. If RUT bottoms at 700ish then it has about 18% to fall from it's countertrend Wave B cycle high at 852.06 on 10-11-07.
The S & P 500 (SPX, http://stockcharts.com/charts/gallery.html?%24spx) is up all of 1.30% from July 2007's cycle high at 1555.90 to 10-11-07's likely Cyclical Bull Market cycle high at 1576.09, thanks to massive Fed credit due to the mortgage/credit crisis. Once the market/SPX breaks down nearly sectors will get whacked. SPX actually broke down a few months ago, hitting a 5% major sell signal, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html, and, the recent strength was rollover action, which was the upcycle/Cyclical Bull Market since October 2002 running out of gas. What was going on in the market was very important peaking action.
The reliable WMT Lead Indicator is extremely bearish, see the six month chart (shows WMT, SPX, HUI relative performance) at http://finance.yahoo.com/q/ta?s=%5EHUI&t=6m&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The point of sell signals is much more to indicate that risk has increased dramatically than it is to be a psychic nailing every cycle high. Double and even triple tops are fairly common, as is rollover action with modestly, and, much less frequently (especially for major 5% sell signals), sometimes substantially higher cycle highs occurring. SPX's (S & P 500) 5% major sell signal, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html, indicated that July's cycle high at 1555.90 was a likely/potential Cyclical Bull Market cycle high, and, more importantly, that trading SPX long was risky, because, a very important cycle trendline had broken down.
The recent gold COT (Commitments Of Traders) data is extremely bearish, see the last/third data at http://www.cftc.gov/dea/options/deacmxsof.htm. The savvy non contrarian gold Commercial Traders traded significantly net long in the five day period ending 10-23-07, correctly anticipating the recent strength, after having gone massively short the prior six weeks, covering 5567 short gold futures and options contracts (adding 19,360 two weeks ago, added 16,788 three weeks ago, added 1751 four weeks ago, added 27,946 five weeks ago, added over 17,000 six weeks ago, and, added a massive 53,207 seven weeks ago), while adding 9632 (added 5075 two weeks ago, liquidated 192 three weeks ago, liquidated 5492 four weeks ago, liquidated 2977 five weeks ago) long gold futures and options contracts.
For all practical purposes HUI's Wave 1 Cyclical Bull Market ended on 5-11-06 at 401.69 (XAU at 171.71). HUI/XAU/gold have only risen about 8-9% from 5-11-06 to the recent cycle highs. Technically HUI/XAU's Wave 1 Cyclical Bull Market is peaking in dramatic rollover mode versus 5-11-06's cycle highs at 401.69/171.71 (http://stockcharts.com/charts/gallery.html?%24hui).
Once a sell signal occurs it's time to exit. Actually, I hopefully exit earlier using the Elliott Wave count. The 5% major sell signal, see annotated charts 15 and 18 at http://www.joefrocks.com/GoldStockCharts.html, that occurred in May 2006, correctly indicated that it was time to turn bearish on HUI/XAU.
The NEM Lead Indicator is BIG TIME SCARY. The NEM Lead Indicator = -0.01% versus the XAU today/on 10-30, -1.46% on 10-29, +0.09% on 10-26, -0.72% on 10-25, +0.32% on 10-24, -1.33% on 10-23, +0.91% on 10-22 (yes, same as Friday), +0.91% on 10-19, -0.88% on 10-18, -2.00% on 10-17, +1.11% on 10-16, -0.31% on 10-15, -0.19% on 10-12, +1.62% on 10-11, -1.28% on 10-10, -0.25% on 10-9, -0.06% on 10-8, -0.57% on 10-5, -1.17% on 10-4, +0.37% on 10-3, +1.35% on 10-2, +0.33% on 10-1, -0.41% on 9-28, -2.21% on 9-27, -4.13% on 9-26, +0.40% on 9-25, +2.03% on 9-24, +0.07% on 9-21, -1.46% on 9-20, +0.69% on 9-19, -2.33% on 9-18, -0.53% on 9-17, +0.12% on 9-14, -1.34% on 9-13,+0.02% on 9-12, +0.25% on 9-11, -0.69% on 9-10, +0.42% on 9-7, -1.39% on 9-6, +0.06% on 9-5, -1.81% on 9-4, -0.98% on 8-31, -0.03% on 8-30, -1.86% on 8-29 = an extremely bearish -18.33% versus the XAU the past 44 sessions, see six month NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
A brief rockets summary (none are recommendations, just timing examples/info):
Because a major market downcycle has begun one has to be very careful about trading rockets right now (should be very careful anyway with rockets), if one trades them at all. Generally it's a good idea to trade with the wind/market at your back. Trading long in the midst of a major or even minor downcycle is risky.
Some new rockets I'm watching are TMY (http://tradethecycles.blogspot.com/2007/10/transmeridian-exploration-inc-tmy.html), Titanium Metals Corp (TIE, strong insider buying), VLNC (strong insider buying), PKTR (insider buying), Linux Gold LNXGF (new Cyclical Bull Market).
Spicy Pickle (SPKL.OB, http://stockcharts.com/charts/gallery.html?spkl) needs to do an Elliott Wave ABC down up down monthly downcycle for about a week before I look to trade it long. I'm excited about trading this one. I probably will trade this one once it does a monthly downcycle.
Lincoln Gold, LGCP.OB (http://stockcharts.com/charts/gallery.html?lgcp) looks good once it does an Elliott Wave ABC down up down monthly downcycle for about a week.
I'm "imminently" looking to/might buy VG (Vonage) for a short term Wave 5 upcycle 1 to 2 week trade (trade a Wave 5 short term upcycle of a monthly upcycle).
I'm looking to trade a tiny ICO (http://stockcharts.com/charts/gallery.html?ico) position once it does Elliott Wave ABC down up down monthly downcycle.
Cycle trendlines/channels used in concert with Elliott Wave patterns and gaps are the basis/crux of "Trade the Cycles." "Gaps action" is very important.
If one decides to trade volatile stocks/ETFs obviously paper trade for a while or trade very modest positions at first.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU. Those are the targets for where the Cyclical Bear Market will bottom. NEM's Wave 2 Cyclical Bear Market began on 1-31-06. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
1:48 PM
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