Tuesday, March 26, 2013

Oil is a Currency and HUI in a Bear Flag

Oil is a Currency, like Gold and Silver.    Its a place for wealth to sit for a while.

Oil looks like it is "back in the saddle again", getting traction above the main channel the B100 line.

PM's are lagging, I guess everyone is happy that Cyprus is "fixed", they let themselves be raped rather then face the horror of not being in the Euro club.

How much you want to bet that the Rothschilds end up owning their offshore nat gas reserves?

Bear Flag on Hui makes it hard to be excited about gold stocks / miners right now.   

But note the proximity of the Big 61 Fibo from 2008.   maybe this is a bottom.   A tricky flag looking bottom.   For now not buying HUI or GDX, have 2 small miners, GG, and SVM long, thats enough for the moment, until HUI resolves.

And its a full moon, Awoouhhh, Werewolves of London!    awoooouuhh!

No moons tend to freak animals out more than full moons, but full moon can be a top also.    

Also consumer confidence dropped from like 68 to 59, which is huge.    Cold weather?   Cyprus?    What else changed that much?

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