I have been waiting for HUI to come back down once more in the last week to add my stake. But the market never pleases the majority. I saw the MACD’s wiggle, and thought that it would wiggle down once more, but it didn’t.

I’m temporarily positive on gold & PM. But without a general market correction, or HUI breaking above 370, I will still be cautious.

I still don’t believe US Fed will tighten. If they do, more hell will break lose besides the subprime mortgages. In any case, all of these events are long-term positive for gold. Funny money cannot outlast the real money.

Frugal

I can’t speak for Frugal. But methinks he was a little too pessimistic on gold. I’ve been pretty clear on what I thought the PMs were ready to do. For a more emphatic opinion, read http://www.gold-eagle.com/editorials_05/rosen070407.html.

Price is its own confirmation, there is really no need to consult anyone.

AGU is none too shabby either! The whole agri chemical sector has gone bonkers in the past year. http://biz.yahoo.com/p/112conameu.html

Speaking of commodities, have you changed your perspective on Gold and Silver, given the inflation that will be flowing from the food side of the equation and soon labor, given the tightness of the labour market.

Also, with central banks ready to tighthen further, how can the U.S. Fed keep pace? Seems that the USD is heading further south.

We also should note that Newmont has stopped hedging and the PM stocks are starting to rise, especially SLW.

Your updated perspective is greatly appreciated.

Of course, my return still pales in the face of the 700% return in TNH stock in 1 year.