Vous êtes sur la page 1sur 6

10/31/11

Share

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)


Report Abuse Next Blog Create Blog Sign In

Biiwii
Technical analysis, market ratio analysis, sentiment analysis, macro fundamental awareness... and whatever else is needed to stay on the right side of the markets

FRIDAY, OCTOBER 28, 2011

@BiiwiiNFTRH

Perspective on Gold Miners (NFTRH Update 10.19.11)


BLOG HOME

The technical case for gold stocks above broad stocks remains unbroken. The fundamental case is quite bullish and the current rally is coming off of depressive gold bug sentiment. Here is an email update sent to subscribers on October 19, along with an updated version of the chart that went with it. It is so critical to have strength and perspective every step of the way. The market does not care about you and in fact, makes its bones by trying to use you as fuel, or food. 'Perspective'... I write this word often, and I do so for a reason. A tone seems to be rising among gold stock players that is becoming increasingly negative as the broad stock market out performs the gold stocks over the last several weeks. This tone seems to come from a place that expects the gold sector to be somehow privileged and beyond the laws of TA, sentiment and over bought / over sold dynamics. To help review, the attached chart shows HUI measured in SPX units in the top panel, along with gold (GLD) measured in euros (FXE) and Canada dollars (FXC). This helps illustrate the theme we have been working since gold became massively over bought; namely, that the broad plays will probably out perform gold as the metal works off the unhealthy holders that momo'd it too far last summer. Gold, despite its fundamental 'insurance' or 'value' proposition for the times has no divine right to just keep going up in service to the demands of the most gung ho gold bugs. No, it is on a healthy technical correction to cure the momentum excess. Similarly, the gold stocks are being flogged and even despised in some corners as chronic under performers. But the HUI-SPX ratio again shows that they remain in an uptrend vs. SPX, though it is a pained and unimpressive uptrend thus far. This chart tells me that the risk vs. reward for premier gold stocks is much reduced in ratio to the formerly and dramatically over sold stock market. The nominal HUI remains above the big picture (monthly) support level (roughly 500 +/- 20) in a world full of markets that have broken beneath critical support. Until this changes, the major technical condition is what it is, and that is unbroken. Until such time as HUI drops below this level the case is unbroken. What is happening now is a correction and consolidation of previous bullish activity on gold and gold stocks and of bearish activity in broad markets. Gold is correcting in relation to euros, Aussies, Loonies, etc. with a need to correct further. This is why we have had an emphasis on significant cash levels ever since HUI 610 failed. Current activity is draining spirits and we want to be strong during the process. With nominal HUI at 524, support is intact. What the sum of the above tells me is that if gold stocks are going to lose this support level - into a deflationary take down - the stock market is getting ready to drop even harder. But that remains an "if". Meanwhile, having plenty of cash helps one remain strong. Regards, Gary" http://www.biiwii.blogspot.com http://www.biiwii.com
at 10/28/2011 08:30:00 AM Recommend this on Google Labels: gold, Gold Stocks, sentiment, stock market

NOTES FROM THE RABBIT HOLE

Hello Gary, Wanted to let you know that we really appreciate the excellent macro, technical and sector analysis that you have been doing. The main reason we became subscribers recently is to help reduce the amount of primary research we need to do in order to [dissect] and evaluate the most relevant events and factors affecting the markets where we invest and speculate. We've found your analysis to be among the most objective and unclouded by politics or preconceptions about economic and social outcomes. This type of level-headed approach is a rarity and we feel that serious investors have much to gain from it. --Metal Augmentor (metalaugmentor.com), 2.21.11

More NFTRH Subscriber Testimonials Review the Service Sample Letter: NFTRH156 (PDF) 10.9.11 Sample NFTRH Email Update NFTRH FAQ

NFTRH BILLED MONTHLY $26

NFTRH DISCOUNTED 7.5%, BILLED YEARLY $288

Alternatively, you may simply send $288.00 via PayPal to gt @ biiwii.com for a 1 year subscription, or contact for information about other methods of payment.

NOT READY TO SUBSCRIBE TO NFTRH, BUT FIND VALUE HERE? THANK YOU!

SEARCH BIIWII BLOG Search


Custom Search

0 comments:
biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

BIIWII LINKS AND A FEW PREVIOUS ARTICLES/POSTS

1/6

10/31/11

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)

0 comments: Post a Comment

BIIWII LINKS AND A FEW PREVIOUS ARTICLES/POSTS

Biiwii.com News & Analysis Inflation onDemand & Along the 'Continuum' Inviting the Vampire Crisis in Confidence? Gold: The Invisible Hand (Jon) We Are Already Hyper Inflating id Boy, id Girl A Value Proposition

Comment as:
Post Comment

Select profile... Preview

Now I Get It! Deflation... FrankenMarket Lives Terms of Use About

STILL THE EASIEST WAY TO BUY, HOLD OR TRADE GOLD

Links to this post


Create a Link

Top 10 Mistakes People Make When Buying Gold. Get Free Report Here!
www.usgoldbureau.com/Gold-Tips

Looking to Buy Gold?

FINANCIAL RESOURCES

Newer Post Subscribe to: Post Comments (Atom)

Home

Older Post

Enter your email address:

Subscribe

Delivered by FeedBurner

SUBSCRIBE BY RSS OR EMAIL

Subscribe in a reader

ABOUT ME

Gary from biiwii.com Right-Brained Visual Learner View my complete profile

biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

2/6

10/31/11

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)

RECOMMENDED LINKS

Inca Kola News True Austrian Money Supply - M. Pollaro World of Wall St. Slope of Hope Nowandfutures.com Market Thoughts & Analysis ChrisMartenson.com Bob Hoye's Institutional Advisors Elliottwave International Financial Armageddon Elliottwave Int'l Articles INO Traders' Blog BLOGbal St. Louis Fed US Financial Data NY Fed - National Economic Indicators Ludwig von Mises Inst. Daily Articles Kitco base metal & uranium prices Gold CoT Silver CoT 10 Yr T-Note CoT US Treasury Bond CoT Euro CoT Canada Dollar CoT Timing Charts - CoT charts here!

America's First Deflationary Depression: Is a Bigger One Ahead?


11/01/2011

Are You Ready to Put Your Elliott Wave Knowledge to the Test?
10/31/2011

The Wealthy Witch of Wall Street: Past and Present Penny-Pinching


10/28/2011

(VIDEO) Forex: Why Use Elliott Wave Forecasts, Part II


10/28/2011

Halloween Special: Commodity Opportunitreats Galore


10/28/2011

How Do You Get from Dow Theory to Elliott Wave Analysis?


10/28/2011

Free 45-Page Trading eBook: The Best of Trader's Classroom. This valuable eBook, adapted from the $189 set of the same name, offers the 14 most actionable lessons every trader should know. Don't miss your chance to improve your trading by downloading this popular trading resource. Hurry, this offer expires November 7. Download your free eBook now.

STOCKCHARTS.COM:

biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

3/6

10/31/11

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)


STOCKCHARTS.COM: Daily Go

BARBAROUS RELIC, POOR MAN'S GOLD & UNCLE BUCK LIVE

2004-2011 Biiwii.com

BLOG ARCHIVE

! 2011 (958) ! October (80) NFTRH159 Summary... NFTRH159 Out... Soon? Marines Storm Reddit After Occupy Oakland Shooting... '1360 Express' updated Long Bond proxy TLT supports 'relief rally' case Perspective on Gold Miners (NFTRH Update 10.19.11)... Peter Schiff at OWS... Copper Ceilings Silver miner ETF more bullish still... European Union joins Wall St. in flipping the bird... Baby 'W' vs. Big Bad H&S (SIL) Canadian Venture (CDNX)... Bottom? "Windbag" likes gold... Big bad H&S top vs. little baby 'W' bottom... Junk debt profanity Rut Roh... GSR the lone hold out against bulls GoldiLox! Silver stocks at important juncture... This is more like it... from Argonaut Gold Gold-Silver Ratio & HUI Doctor Doctor, give me the news... More from OB NFTRH158 Out Now The Revolution Will Not Be Televised... CoT Gold & Silver report hot off the presses... Gold Commodity Free Week at EWI Attn: New NFTRH subscriber Carsten E. HUI, SPX, VIX, GSR & USD all in one handy chart Fear not gold bugs HUI - Coming down to the wire JAG (Jerks Against Gary)

biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

4/6

10/31/11

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)


JAG (Jerks Against Gary) Silver Wheaton back below neckline Important support zone for Huey More thoughts on OWS... A Movement Too Big To Fail Gold vs. Currency TA dances along w/ events 'Tear Down Capitalism' A beautiful thing... NFTRH157 Out Now Look at them scurrying back into junk bonds... Inflation onDemand & Along the 'Continuum' Thanks GOOG! Tranny has achieved a target Gold-Silver ratio & USD Updating the Gold - T bond model Volatility to ramp down? Catching up on old friend Parker (PH) Au vs. SPX Updating the CPCE/SPX chart SPX - So what's it gonna be? NFTRH156 Out Now CoT Gold & Silver report hot off the presses... SPX Updated Everybody happy? Market Vectors Gold Miners Global X Silver Miners (SIL) Global X Copper Miners (COPX) A less flattering view of the SPX Gold a road map for the Long Bond? C'mon SLW... Ten year notes updated To hedge or not to hedge? RIP Steve NFTRH155 Excerpt - Market Psych 101 Market Update (mini version) SPY Updated Classic classic CLASSIC... From the foxhole, a little perspective... Zombie Go Home Difference between silver & gold miners Silver Wheaton H&S Update Today's noodling... Inviting the Vampire Crude Oil bear SCO unloaded... Rock Star Roubini Gold This Morning -- From Jonathan NFTRH155 Out Now Goodbye Terry ! September (93) ! August (97) ! July (66) ! June (80) ! May (94) ! April (84) ! March (119) ! February (127) ! January (118) ! 2010 (1083) ! 2009 (722) ! 2008 (356) ! 2007 (304)

biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

5/6

10/31/11

Biiwii: Perspective on Gold Miners (NFTRH Update 10.19.11)


! 2007 (304)

Simple template. Powered by Blogger.

biiwii.blogspot.com/2011/10/perspective-on-gold-miners-nftrh-update.html

6/6