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Gold/Mining/Energy : Gold Price Monitor

GDXJ 87.56

-4.9%

Nov 4 4:00 PM EST

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To: goldsheet who wrote (65010)	3/7/2001 6:50:56 AM
From: TATRADER	Read Replies (3) of 116752

XAU has posted 5 higher lows off the break day...It has not even come back to support at 50.50...The flag pole measures at 47 by 54, with the pennant consolidating in the 52-54 area...Thus you add 7 points to the low of the consolidation area at 52, giving us the next target of 58.50-59 on XAU...The longer term head and shoulder target is 64 XAU...I am now fully invested again in my gold stocks, and ready again for the next run...Note the 1 month lease rates are over 4 percent, another sign that we go up from here...There is a difference in this run from what we have seen..The gold stocks themselves have held strongly inspite of the manipulation in the POG...Further, we haven't had strong lease rates like we have seen in a long time...Finally, our normal huge sell-off in XAU just isn't happening this time...

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