The NYSE Arca Gold BUGS Index (HUI), the gold stock index, was probably hit the worst out of any index today, down nearly 5%. I continue to think that the HUI is in a weekly bearish descending triangle and it’s going to get obliterated.
Gold BUGS Index Getting Obliterated – and More In Store
If you're a gold bug, stay away from the HUI and look for more diversified metals plays.
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