Replies to post #399 on Justa's Dive Bar

[chainik]

Very clean rotation from commodities/energy into nasdaq. IMO the next step (in January) will be rotation from nasdaq into cash (g).

I feel some panic among gold bugs. HUI basically stayed in 270-360 range in 2006; I wonder whether HUI will be pulled to the bottom of the range by further decline in commodites, including oil (and the decline in commodities is very likely IMO).

Do you follow copper? Impressive dump; on the other hand, commericals are long big time...
http://www.softwarenorth.net/cot/current/charts/HG.png

[Ace Hanlon]

Looks like my caution on gold was on target.

But the action improved considerably today. HUI down just 1% -- much less than POG. Good positive divergence.

We should get a bounce next week. But too soon to say if THE lows are in.