New Sell Signal for Gold and Gold Stocks

Today I am issuing a new sell signal for gold mining stocks and for gold bullion. The broad market is in great danger for another massive selloff. Individual investors facing margin calls may have to liquidate their precious metal holdings. Our leading indicators MER and FCX have both given sell signals and other commodity prices including copper are limit down in overseas markets.

I don't know which major brokerage house or major bank is next but I am watching Citibank Group "C" and "UBS" for possible put options.
If gold bullion goes to a new high and $HUI follows I will reverse back to a bullish position on gold stocks.

I have added IVN and MRB to my watch list. Once this subprime liquidity crisis has bottomed I look for the junior gold stocks to "go to the moon".

On a personal note I spent the last 4 days in Las Vegas at a CME meeting but with time out for golf with friends and also a few passes at the crap table. I have the same "feeling" toward the stock market as when the dice are thrown off the table and the next roll of the dice is a "seven out". Interestingly one of the exhibitor groups was a Merrill Lynch group from Oklahoma City. Really fun people and good golfers too (and also smart enough to play customer golf and so they let me win the 25 cents skin game).