the flickering light for gold stocks

For gold stock holders a dim light of hope is emerging out of the darkness.
Have a look at the Hui gold ratio chart below. It has clearly broke out of the short term down trend. It has also taken out the last lower high. Every trend change has to have a beginning. Could this be the beginning of a change of trend where the Hui starts to outperform gold?


The Gdx too has just broken out of her short term downtrend with good volume. We may be seeing a trend change (at least in the short term) in the Gdx even though gold trends sideways.
With gold price seeing bottoming action there is a good possibility the trend for gold stock has already changes to the upside ever so stealthily even though the sentiments for gold stock is at or near all time low. And long term uptrend always begins with a short term uptrend.

I may be wrong but I strongly believe that trend changes in the depth of despair. Gold stocks have capitulated with blood in the street the past few weeks. It is time for sentiments to start swinging back to the other extreme.

Lastly just to share with you gold bulls. Larry Edelson of weiss research who has been short term bearish on gold since last year has just started to begin preparation for a period of hugh money printing meaning he is beginning to turn bullish or rather very bullish on gold and commodities.