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Gold/Mining/Energy : Gold Price Monitor

GDXJ 110.89

+1.8%

Dec 10 4:00 PM EST

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To: long-gone who wrote (85675)	5/22/2002 2:16:37 PM
From: E. Charters	Read Replies (1) of 116808

You know in a voaltile bull market whose extent is not known for the next three months[ they never are], puts are a good hedge and they are basically a short. A straddle on gold right now looks sensible. As far as I can tell the only thing militating against that is gold's pattern now is "ledgey". It's going up slowly against unkown volume but that is assumed to be low. It is not dropping back or moving that fast. That is classically a good sign for continued upward movement. In fact its entire pattern last year is slow upward movement. This is only partly classically gold-like, as it usually moves fast in one day. These fast moves have been small. The usual for gold is to move 5% or more in one day. You could get 350 next week. On the other hand, it does not feel like a really exciting market. Buoyant but not wild. EC<:-}

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