Important [HUI] update, bottom is in or imminent (ie. couple weeks tops).

In this post I pointed out the article in which Avi Gilburt provided his wave count for HUI, the gold bug index.  In short, he was looking for a bottom in the $100-$125 range.  At the time, HUI was trading in the low 150 range so he was predicting a large collapse from a percentage perspective.  Here is a cut down, zoomed in model of the HUI chart that you will find linked to in the link I posted above.  In other words, click on the link at the top of this article, read my post, and then click on the link to Avi's model that I posted there.  Within Avi's Marketwatch article you will see his long term HUI model chart which the picture below was derived from.

As you can see from the updated snapshot below, Avi's model seems to be on track.  It recently but briefly touched 108.  While there is still a chance for a lower low non traders (i.e. buy and holders) should be aggressively cost averaging into this right now.  It will not stay at these once in a lifetime depressed prices for long.  I believe that the miners will bottom first and then gold and silver will bottom.  1-3 weeks later.

You cannot buy HUI because it is an index and not an ETF.  Instead look at GDX or for more leverage but without dividends, look at GDXJ.  I personally love GDXJ right here as a multi year hold.  It hit my long standing target of $18 recently which I think is either THE bottom or possible 3 of 5 with perhaps $15 as THE bottom. 

Want to avoid fear of the unknown??  Cost average in.  Buy 1/3 in now, wait for 10 days, go another 1/3, wait for another 10 days and go the final 1/3.  ALWAYS wait for a dip to buy, never buy a peak. 

This is an historic level wipe out of the gold miners, a great depression in mining.  You think gold is going out of style in favor of fake rainbow colored paper that now looks like monopoly money?  THINK AGAIN.  In the words of JP Morgan, "Gold is money and nothing else is".  If the picture below doesn't convince you that those running this con game know what they are doing and are laughing in our faces then you are literally beyond saving.