Wednesday, October 19, 2011

interesting divergence

Right now $HUI is about as low as it's been since the start of October, ignoring the big puke of course.

Yet silver is $2 more. Gold is 4% higher. the S&P 500 is 120 points higher.

So tell me again how gold miners are a good investment?

world ending now

$HUI failed the EMA(8) now, as has SIL and GDXJ and SLV and JJC. This despite a decent S&P that's really refusing to turn its back on 1200. That makes me uneasy.

So I've dumped a few things and gone to healthy cash level. Some small things aren't worth dumping, and some large positions are still holding up relatively well (REG, GOZ, RIO). I've taken profits before on RIO and GOZ so I'll be happy to add those stocks back at lower prices if only the market could make up its mind to puke into thin bids again.

Funny enough, COPX hasn't died yet.

Monday, October 17, 2011

world still not ending yet, sorry

$HUI looks a little bit unhealthy, sure, but SIL still looks good so I'll use SIL as my disconfirmation of downtrend for now. As far as the S&P index, until it pukes below 1190 I'm not concerned.

So quit selling stocks you chickens.

No actually, lightening up a bit here might be good, as $HUI's failed 550 twice now; but it'd be even better to not dump into a bad market. If tomorrow's better, you could dump then.

Yet more family drama associated with my sister's death, so the lack of posting will continue until morale improves.