Well, I now have one long-term (hopefully) trading position - GOOG (short). I'll be stopped at 434 for breakeven, but IMO there is a good chance to catch a major move down.
Re XAU 140 - just congestion in the chart. No strong opinion.
The only tools which work for me in HUI trading are Rydex flows and Hulbert's sentiment data. Both are bullish IMO. So I don't think miners are good long-term shorts.
Notice many of the largest Houses are sending their best traders off to head Hedge funds , Goldman , Lehman or they are leaving to join them .... everyone in this market now needs to be supple and swift, the old buy & hold strategy is long gone in these turbulent times ....
the idea of "long term hold" might be deleted from Wikpedia very soon if not already
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