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September 22, 2005 The New King of Money, HUI Breakout |
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Gold $472 HUI 243 APE.v 0.43 SVM.v 3.95 HUI has gone up 20% since August 31, is it too late to get in? Looking at the following chart
I'd say the HUI party has actually yet to get started. Now let's take a look at gold.
Gold has broken out in dollar, euro, and swiss francs. Coupling the breakout with traditionally strong season for gold, it's not unreasonable to assign a $500 price target for 2005. The target can actually be reached as early as October. And keep in mind it took mere weeks in 1980 for gold to reach $850 after the $500 resistance was overcome. In my opinion HUI will follow suit very quickly by breaking out of 250 resistance to go as high as 500 within 6 months. I am particularly fond of silver and you can find my silver write up at 
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John Lee, CFA John Lee is a portfolio manager at Mau Capital Management. He is a CFA charter holder and has degrees in Economics and Engineering from Rice University. He previously studied under Mr. James Turk, a renowned authority on the gold market, and is specialized in investing in junior gold and resource companies. Mr. Lee's articles are frequently cited at major resource websites and a esteemed speaker at several major resource conferences. Copyright © 2004-2008 MauCapital.com All rights reserved. Image rendition and html coding Copyright © 2000-2008 SafeHaven.com « BullionVault.com -- Buy gold online - quickly, safely and at low prices » « Opinions expressed at SafeHaven are those of the individual authors and do not necessarily represent the opinion of SafeHaven or its management. Articles are available via RSS/XML. Please visit RSSHelp for instructions. » |
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