From The TSI Trader:
Watching the HUI Gold Bugs Index of late brings to mind the saying, "If it wasn't so funny, I'd cry" or perhaps the opposite is better, "If it wasn't so sad, I'd laugh."
Either saying [would be] correct, as what we are witnessing right now is extremely emotional and irrational price behavior...
All along, I have resolved, without wavering, to hold my underwater mining positions for however long is required to sell each and every one at a profit. A nice, generous profit is what I have in mind.
But at a time such as now, I suppose that sounds pretty naive, right? I mean, everyone knows the sky is falling, so what is my problem?
... I'd like to show you the earnings of the individual mining companies that make up the HUI Gold Bugs Index. And to put it in perspective, I worked hard to get the annual earnings for all 16 companies from 2004 right on up to the estimated earnings for each company in 2013.
What I think you will quickly see is that this take down of the HUI Gold Bugs Index is emotional nonsense...
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