I’m going to chase the $DUST because I believe it is going to take out the top set in May 2012. If gold price is being clobbered, the gold miners will be decimated.
Take a look at the weekly $DUST chart. My sense is that last May high will be taken out by next week. Perhaps, gold is no longer a safe haven because people are coming back to buy stocks as you can see we have made new high on the DOW.
Come to think of it, we may even take out last year high today… there are still 35 minutes for this to happen.
My 2 cents.