<New lows still lie ahead after a move to HUI 185-190 IMHO>
Well, here we are at HUI 186,
-juniors are strong,
-commercials reduced their short position to about 60K (bullish),
-commercials are short USD big time,
-HUI is outperforming GLD,
-volume in juniors is picking up.
Looks more like a bottom, not a top. I have no intention to cover.
Also I have to admit that I do not understand the logic of our favorite gold timer regarding further run in the USD. Commercials disagree with him, at least for now. If only a couple of rate hikes are left, why should HUI go further down?
