Loading ...Well, I suppose if you had asked me that question yesterday at the close I would have said that based on the miners performance we might have had a chance to be higher today.
As usual though, there are no indicators that hint where the next move might be and the pm sector continues to make a fool out of me.
So today? I’d guess your downside bias is spot on. If the USD is up we will for sure be down – that seems to be the only working correlation. OTOH, I still think we’re lucky not to be down more considering the USD is up around 1% the last couple of days.
As for the shares, I think the scum has to take out 180-185 HUI which has held for months. If the do, we should probably look out below.
Lastly, the scum has been pressing their short bets and raids for weeks. They don’t seem to be getting as much bang for their buck as they used to, although who the hell knows what would happen if the SM was moving lower.
So there you have it, my long winded speculation of nothing…. 🙂