The Party Ain't Over Yet
Eric Hommelberg
October 11, 2007
The HUI sailing into new all time highs just after breaching its long-term resistance certainly woke up the traditional TOP callers yelling 'SELL' based on record high open interest in gold and severe overbought conditions. We went through it all before and yes, it's all deja vu December 2005 when most analysts were calling for a TOP just after the HUI broke its long-term resistance at 250. Also back then we had record high open interests in gold and dealing with severe over-bought conditions. But as explained in my piece 'The Party Ain't Over Yet' send out this morning to our members, a commercial signal failure could do wonders for your gold positions just like it did as from December 2005. Are the gold shares in major sell-territories? NOP! The relative HUI chart below shows plenty of upward potential before hitting major sell territories, most fun is still ahead of us!
We're on our way to HUI levels exceeding 450 before year end.
Readers interested in all updated charts can view them HERE
Best regards,
Eric Hommelberg
The Gold Discovery Letter/
The Gold Drivers Report
www.golddrivers.com
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