I am taking profits in some mutual funds, including a gold fund. Here is a chart of the HUI gold bugs index (link), showing a potential double-top. The chart for the underlying GLD looks healthier (chart).
Those readers that have been with me, or that have read my profile, know that I tend towards low risk hedged investments. It is low risk to take the profit now.
Steel was the best industry group for the 1st quarter as reported in Schaeffers Research (link) up 41% for three-months! Wow. NX is the lone steel stock on my main watch list--it is not as extended as most of the others.
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