Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I don't read the PM's too well, but I have a feeling that for now, we have seen the peak. I had some target reentries for some miners (I am out completely), but I get the feeling from looking at selected charts that they may have formed a double top and may breach down. No firm opinion on that here and will watch to see how NEM acts, GLG and ABX have slightly better chart formations than NEM, and RGLD is threatening to go back to the sub $16 area. When I don't have uniform reading in a sector, I am assuming the troops will follow the leader (NEM) and if NEM goes under $41 (maybe I should set that at $40.5), then the whole sector might be decoupling from the general equity market and present better opportunities after the general equity markets peak in the summer. For those following my plays in gold, I no longer have bids for NEM under $42.5 and under $41, nor for GLG around $15.5. I am going to wait a little while here before I get back into miners since I think bios and even semis will be more "fruitful" in the next three months.