Jim Sinclair

sbeverly

To those interested in the mining stocks...

At the recent GATA conference, according to Eric Sprott, Jim Sinclair said that when the HUI gets to 600...buy like Heck...

HUI

percyb

<< <i>To those interested in the mining stocks...

At the recent GATA conference, according to Eric Sprott, Jim Sinclair said that when the HUI gets to 600...buy like Heck...

HUI >>



What is this a chart of and what is he suggesting be bought?

sbeverly

It's also called the AMEX Gold Bug Index. Although almost all the companies trade on the NY exchange

It's an index made up of Major gold mining companies stocks. I suppose that it would be like the DOW but, for Gold stocks.
HUI index

Sinclair made the statement because the miners have been seriously lagging the physical metals. The HUI has been trading at about the
same level as when gold was at $1200.

In the past bull, the miners performed better than physical because after their cost point, every increase in the price of gold dropped to the bottom line of profit
for the miner.

He felt that when the index breaks 600 the miners would finally begin playing catch-up.

He doesn't make any specific recommendations as to which company (shares) to purchase only that the miners generally are under priced.

KUCH

Which miner to buy

Tiggs2012

Why not just get GDX if can't pick a specific miner? Looks about set to break out. For a specific stock, GG was up almost 5% today.

RedTiger

<< <i>Which miner to buy >>



You could always follow Ron Paul (link).

Or if you just want one, like the other person suggested, GDX is a good and simple way to go.