How Low?

Comments: How low will Gold go? The $620 area is quite important. below that I think we'll see a slightly deeper correction with the HUI going below its 200 day MA. I think there is a fairly decent likelihood of this happening since we recently had a bearish moving average crossover. According to one projection, I see the HUI going as low as 308. but it seems a bit unlikely that it will fall that low. Still, it's probably best to play it safe now than to be sorry.

I've sold down my precioous metals exposure during the last few days down to about 20% portfolio exposure. STP has been going to bat for me in alternative energy and I just sold HAL stock and calls around the day's highs for a modest profit ahead of its KBR spinoff pricing. These two have helped to keep me in the positive this week, while NTO (which I sold yesterday) was a serious drag on my results. Still, all in all, so far so good. Nursing a modest profit for the week.

I've gradually been raising capital to buy back into gold and silver stocks. SWC, PAL, SLW, GSS, SSRI, and AUY are some of the ones that I will be looking to possibly enter when this correction looks like it has run its course. I know, I know... GSS... not that great a company, but if you've been reading the updates here, maybe you can understand why.