HUI Chart & Commentary

Comments: I wondered if we might get a channel buster last week in the HUI, but I think the possibility of that happening has passed. Nevertheless, since Gold has broken past the $641 mark, I would expect a fairly tight consolidation now, leading to further gains soon. I don't see Gold falling below $640 anytime soon, so I don't see the HUi selling off too sharply either.

Weekly Portfolio Gain/Loss: +3.35%. Another winning week. USGL and a small positon in AUY did well for me. EP in energy, finally perked up a bit. SLW and GSS disappointed, but still had gains there. CUP has gone nowhere since I picked it up, but we'll see about that. I wonder if I'm going to regret letting go of RGLD on Friday. Considering the really high ratio of shorts to longs in that stock, it can be quite explosive when it makes its move due to short covering and I wonder if I sold it too early. I was also encouraged by some great gains in my options portfolio. Sold off my FCX and PAAS positions to deleverage a bit.