This is an updated view of a chart that was created so long ago I can’t even remember it. I just found it rummaging through a chart list. Anyway, it is untouched from its original creation, which was long before HUI lost the first support level at the green dotted line.

Look where it sits now. Right at the projected support. So, I wonder what gold stocks are like vs. the US stock market now on a comparative risk vs. reward basis (something that momo addicted casino patrons care little about)?

After all, the guy who called the secular bear market in gold a few days after he literally said we were “on the cusp of a massive uptrend in gold” is hyper bearish on gold and gold stocks now. Momo’s tend to listen to that type of stuff.

PS: This post is not meant as a bullish proclamation on gold stocks. We are noting big picture risk vs. reward only.