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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Zeev Hed who wrote (5541)	2/10/2002 12:16:48 AM
From: macavity	Read Replies (2) of 33421

Gold. I have been paying attention to Gold and Gold Shares and believe that we are at the beginning of a major bull run. Just look at $HUI or $XAU on monthly, weekly, and daily charts. It is the only (sector) chart which had/has bullish divergences in monthly charts (PPO/MACD). The weekly trend is up, and for the EMA-pair that I look at, we have had a bullish cross at the start of this year in monthly charts. The industry is undergoing major consolidations...... blah, blah, blah. Which is usually a good sign at the start of bull runs. And it is one of few products/services where supply is being reduced. Yes it is major overbought in daily and does not provide a nice entry, but wait for it to get oversold and then look to buy is my view. The monthly trend is not quite strong enough to warrant a buy the dips mentality, but if and when it gets o/sold I for one will be looking to buy. -macavity !

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