...............HUI/XAU Appear To Be Done
HUI/XAU appear to have put in intermediate term and Wave 1 Cyclical Bull Market cycle highs on 3-17 for HUI and on 3-14 for the XAU, see http://stockcharts.com/charts/gallery.html?%5Ehui. The -12% HUI Wave A type decline in about two sessions time so far (might not have bottomed yet), see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=, appears to be a very important turning point.
A 5% follow through (after breaking the uptrend line since 8-16-07) major sell signal for HUI/XAU will confirm that an intermediate term and probably also a Wave 1 Cyclical Bull Market cycle high occurred.
A 5% sell signal might occur in the short term Wave C downcycle that will follow a countertrend Wave B rebound, and, will probably bottom well below where the Wave A move bottomed (might have bottomed at 456.05 for HUI early today 3-19).
If this HUI/XAU crash caught you by surprise and you want to exit some positions, there should be a reasonably good opportunity to exit in the next few days, when a very sharp countertrend Wave B rebound should occur.
See this post http://tradethecycles.blogspot.com/2008/03/gold-and-silvers-two-cyclical-bear.html for charts and info regarding prior gold and silver Cyclical Bear Markets.
The gold nitwits and scam artists are no better (just as greedy and irresponsible) than the mortgage lenders making loans (adjustable rate mortgages) that they should have known would "blow up" in the near future and not be affordable. Gold will probably drop -40% to -50% in the next 18 months. Gold's primary Secular Bull Market uptrend line is at $500ish right now, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html.
The work of many gold writers reads like a scam. Gold will skyrocket (it already did obviously), gold won't go down this time (BS), the US is falling apart, etc etc. If it sounds too good to be true, it probably is. Gold and silver are great investments timed properly.
Gold and gold mining scams are commonplace, see http://tradethecycles.blogspot.com/2008/03/gold-and-gold-mining-scams-are.html.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
A 5% follow through (after breaking the uptrend line since 8-16-07) major sell signal for HUI/XAU will confirm that an intermediate term and probably also a Wave 1 Cyclical Bull Market cycle high occurred.
A 5% sell signal might occur in the short term Wave C downcycle that will follow a countertrend Wave B rebound, and, will probably bottom well below where the Wave A move bottomed (might have bottomed at 456.05 for HUI early today 3-19).
If this HUI/XAU crash caught you by surprise and you want to exit some positions, there should be a reasonably good opportunity to exit in the next few days, when a very sharp countertrend Wave B rebound should occur.
See this post http://tradethecycles.blogspot.com/2008/03/gold-and-silvers-two-cyclical-bear.html for charts and info regarding prior gold and silver Cyclical Bear Markets.
The gold nitwits and scam artists are no better (just as greedy and irresponsible) than the mortgage lenders making loans (adjustable rate mortgages) that they should have known would "blow up" in the near future and not be affordable. Gold will probably drop -40% to -50% in the next 18 months. Gold's primary Secular Bull Market uptrend line is at $500ish right now, see chart 2 at http://www.joefrocks.com/GoldStockCharts.html.
The work of many gold writers reads like a scam. Gold will skyrocket (it already did obviously), gold won't go down this time (BS), the US is falling apart, etc etc. If it sounds too good to be true, it probably is. Gold and silver are great investments timed properly.
Gold and gold mining scams are commonplace, see http://tradethecycles.blogspot.com/2008/03/gold-and-gold-mining-scams-are.html.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
7:52 AM
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