Friday, August 11, 2006

So far not so good

It's been two days since my call for more downside in the major indices and upside in PMs. The S&P has been flat after two sessions of low volume gyrations. On the other hand, the HUI has lost approximately 4%. It is now perched precariously above the upper rail of the triangle I have been drawing. I find myself eeriely detached from this situation. In fact, my conviction in the PM sector has never been stronger, bolsted as it is again by the foiled terror plot in the UK. My outlook is for the next serval weeks so the day to day fluctuations don't faze me at all.

I'll be reading this report on Canadian Income Trusts from RBC over the weekend. The link is provided by Bill Cara and well worth a read.