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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 398.26

+0.5%

Jan 2 4:00 PM EST

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To: crustyoldprospector who wrote (141)	8/28/2003 6:15:27 AM
From: Andrew	of 29622

I'm thinking more like the HUI chart LJ put up might be a leading indicator for where the XAU is heading. The HUI has clearly broken out and the XAU chart is about as good looking a chart as I've seen. I do though agree that the general markets are overdue for a major correction and that the big cap gold stocks would be pulled down also in a major decline. It might depend on how far gold can go. I'm thinking the XAU can reach 110 easily in a few weeks if gold can perform something like the breakout over 330. A market breakdown would then give it room to correct back down to the 90ish level. It all depends on how soon the equities markets breaks and how fast gold can move and we can throw into the mix the USD which looks like it may be reversing. stockcharts.com[w,a]dacayyay[pb10!b40][vc60][iLh14,3!La12,26,9]&pref=G

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