Przemyslaw Radomski Sees Sideways Movement For Gold Stocks

After analyzing the chart of the Amex Gold BUGS Index and the Mining Vectors Gold Miners ETF, along with a ratio chart of the latter in terms of the S&P 500 Index, Przemyslaw Radomski concludes that the charts show no discernible trend one way or the other. He concludes by forecasting sideways movement for gold stocks being likely.

He also has something to say about juniors, as approximated by the TSX Venture Index. A ratio chart of it in terms of gold shows sideways movement after a nice run in December. He says things have calmed down, but the picture is still too cloudy to recommend going (or going back) into them.