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Strategies & Market Trends : Natural Resource Stocks

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To: Roebear who wrote (867)	9/25/2003 2:12:50 PM
From: ItsAllCyclical	Read Replies (1) of 108704

(edit) If I were to rate the reasons... 1) Fed slamming gold as to not cause alarm in financial markets. US Dollar was almost unchanged today. 2) Options expiry. 3) New high brought in lots of momentum/weak hands that were easily shaken out. Shorts and hedge funds knew this. Nobody that I read predicted any resistance between 390 and 400. Universally bullish. 4) Yen appreciation of late in Dollar terms. We still have a few pts to drop on the HUI and we'd still be in the channel. Alternatively they could dip us below the channel if the can get POG to go sub $380 tomorrow. Could send quite a bit of fast money to the exits and then maybe rally back above trendline on an interday basis? Too stressful for me. I cannot imagine gold not hitting $400+ sometime before year end, but if the trendline breaks on gold and the HUI I certainly don't want to be around waiting till it happens.

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