HUI Big Picture Update

I firmly believe the entire commodities market is diagonal in nature and its the main reason the markets are so choppy. Diagonals are just big zigzags linked togother over hundreds of years.  This is why the bull market start, is the [C] wave in Primary degree.  The [B] changes it’s role and is now a “Buy”signal.  Our present day market is the first part to a three part Cycle degree correction and we are far from finished. If this present rally is in a bull market it has to soar. It’s not, so I look for a bearish point of veiw right away.   It may take until years end but this market will not hold up and the others will all follow.  A bear market rally always retraces itself ,so any new record low must happen.  We are looking at this HUI chart with the knowledge that that Death Cross is just below weekly gold. How can one justify  keeping clients in gold investments?

You can scream as loud as you want yet they don’t care.  Once this HUI breaks a little more, then you will see the knife falling. Basing your whole life on a number is pretty scary if you ask me.  I have to make a better living for myself and if I was invested I would be wiped out. I bailed out but the knife cut me and it was real blood.

I’ll make it all back on this short trade as I have done that before and may even double my cash out by the end of this year or sooner. I’m loaded for bear and so far so good.

The gold bulls don’t realize it but this type of pattern could produce a gap down very easily. Imagine gold gap down $50, what horror there would be?  As long as gold falls below $1047 I win my 10 ounce silver coin. They are beautiful coins and I nickname it the “Silver Stone”.  There is more to this betting story but I will not divulge it now as the $1047 price has to be breached first.

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