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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Andrew who wrote (5105)5/18/2006 12:59:19 PM
From: TheSlowLane  Read Replies (1) of 48092
 
Gold was at the top of a parabolic move, isn't that where JS says we are supposed to be selling 1/3 into strength (if we are trading-oriented)? Not sure why it has to be more complicated than that. Traders who are fundamentally gold bulls exited some their positions, some have chosen to go a step further and go short. Not because they believe that the gold bull market is over, but because experience tells them that overextensions are followed by corrections.

I was reviewing my charts this morning and when I pulled up the weekly of Teck Cominco, I had made a note on it saying "This could fall $20 and still not break the 50 week EMA". It was at $85 then. Guess where it is now? Knowing is one thing, acting is another. If I could coordinate those two, that might be something!
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