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Gold/Mining/Energy : The TA Challenge!"

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To: Roberth who wrote (29)	6/11/1997 12:37:00 AM
From: Jaakko	of 80

I agree. The "when to sell" is especially difficult. An often quoted fact is that in resource stocks even the insiders are no better off in determining the optimum sell point. One rule that I used successfully during the 80's was to sell when the stock got the maximum headline, e.g. " Trudeau opens Kiena gold mine" if I remember correct , the stock reached the top on that day. In today's environment even the good news don't seem to move the stock too much. Look at how little action the news by Yamana (YRI-T) of hitting high grade ore had on the share price. "Buy on rumor, sell on news" used to be good in the past. With the improved communication I sometimes wonder if one should buy on anticipation and sell on rumor, since many times the stock goes down on positive news. When you see a stock going up for no appearant reason (i.e. there are no news or rumor) you can say you are buying on anticipation. TA should help identify these situations. I haven't been able to conversely apply this to selling, as profit taking is muddying the picture. Everybody has their own profit taking point or stop loss point and sometimes these points feed on themselves.

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