Loading ...this rejection of the $1,150 level THREE TIMES in the past month can’t be ignored.
Note: It is 9:51 a.m. and Feb gold just had a print at $1,197 representing a $58 outside reversal to the upside. I’ve been trading precious metals for almost forty years and this, my friends, is incredibly bullish action.
So – with the Gold Miners all now re-priced to reflect the Vampire Squid’s $1,050 ordered price target level, I am going to continue to accumulate these miners with my 2015 forecast of 325 for the HUI (currently 163) as the guidepost. It is critical to remember that the Gold Miners topped in 2011 (over three years ago) with the HUI over 600, 325 is around 50% of that top – not exactly a stretch.