***PMPIX... can't really go bullish on it here... why?... because it still hasn't banged past resistance, yet $GOLD has... I think it's because it's going lower when people realize how unproportionately oil has risen vs. $GOLD... thus $GOLD companies are going to hurt as much as the rest of the stock market... and it's not something one quarter of $GOLD 5% higher would repair... thus I'm neutral the stocks, bullish the physical at this stage...
Make sense?
Case in point, look that the HUI was higher in early '04 when $GOLD was toppy in the $420's area... but how much was oil back then?... now how much is oil and how much is $GOLD?...
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