Trader Dan Norcini
The
ratio briefly dropped below the low made back in November of 2008
before bouncing higher in today’s session. It came very close to
matching the October 2008 low. It could be that we have gotten the
answer to our question posed previously whether the gold shares would
need to move lower against the price of bullion before the HUI would
finally bottom out. I want to see a bit more subsequent action to feel
that has been confirmed.By the way, I will try to provide a CLOSING chart of this later on today if my schedule permits.
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