Sunday, February 01, 2009

Gold Miners - do not be sorry about us any more. GDX, AUY, ABX, KGC, NEM, GG, HUI, XAU

With DOW still thinking whether to go Sushi style below 7500 and lose decade or two in oblivion, Bull market in Gold Miners takes High after High and one click away from crossing MA200. US Dollar is the key as usual and general market rally will help to resolve Cup and Handle to the upside. Last week it was very encouraging to see decoupling in Gold miners and general market. New found strength pointing to Gold Miners outperforming Gold which was much stronger then Golden equities. Next wave of excitement will be in Juniors - Majors are on a slimming diet now and investors will push them on a buying spree for resources.
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