SliderOnTheBlack.com

One of the fascinating things about gold, is that it wears many faces…
It can trade as a commodity.
It can trade as a currency.
It can trade as a flight to safety haven.
And it can trade as the momentum flav’ Du Jour.
It can trade either positively, or negatively correlated to the US Dollar and/or Oil and commodities.
And [...]

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Our stops were triggered this morning on the HUI Gold Bugs Index, as AIG posted the largest quarterly loss in market history, at $61.7 billion dollars… pushing the DOW to new lows with a gap down open below 7000.
All last week, the HUI index flirted with breaking key support, but held HUI 285 [...]

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Given all the nattering naybobs of negativity who seem to be in such a hurry to pronounce this move in gold as being topped out, and finished; I thought it would be a good time to update a few charts.
First, let’s take a look at Gold.
Gold has just made an uninterrupted run from $681 in [...]

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Here’s my latest interim trading charts for the HUI Gold Bugs Index:
The HUI Index over the last couple of weeks has delivered a series of 4 “lower highs” along with triple support at the HUI 282-285 level, giving us a descending triangle pattern.

So why the lower highs, with gold trending higher and holding above $900?
In [...]

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This type of move in the gold price would traditionally rally the HUI Gold Stock Index from +10% to 15% in a normal market. But, given the market is now re-testing the October-December lows, the move in gold stocks while positive, is still somewhat muted.
The HUI gold bugs index is very undervalued to the price [...]

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