But we could just as easily see the red model and multiple factors I am looking at are giving it the nod. I mentioned some time ago that HUI 100 would be a very nice reversal target after such a long slaughter of the miners. I provided that HUI 100 model in this post and in others like it for some time now:
I bought JNUG into the close today but I have very tight stops on it. It cannot go below the today's low or they will trigger. I will probably know if I am right or wrong in the premarket tomorrow AM. If I get stopped out I will be watching like a hawk for next possible re-entry later this week.
I want to reiterate one thing that I know I have written here before: the lower HUI goes before bottoming, the more likely it is that this is "the" bottom and that Avi is right. EWI did not see this coming. They have a count that works with it but only after changing several times. Avi never wavered and his count goes back many months.
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