Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who started this subject	5/23/2002 5:49:15 PM
From: Dave Gore	Read Replies (2) of 16631

GOLD v. Biotech and Tech --- In my earlier post, I didn't mean to imply that I am "down" on precious metals yet. They are obviously a safe haven of sorts. It's just that biotechs and select techs are close to a technical bottom, I believe. When the tensions lessen, we could see money leave gold for awhile anyway. Then a pullback might be a nice time to buy gold stocks again. Just the huge 7% pop in biotech after the BGEN report in the last hour today, indicates how technically oversold that sector is. We need additional good news to get a significant and sustained rally though. Techs will be a stock by stock and sector by sector story. This thread has always been about Reward to Risk trades and investments. When I see gold penny stocks quadrupling in value or more in the last few months, and when I hear people rushing into gold en masse, that usually signals a technical and certainly fundamental top. With money probably due to start flowing into biotech again, we may see gold stocks prone to near term profit-taking. I like Vet's HGMCY on any significant pullback and perhaps a stock like GSRSF if it pulls back quite a ways.

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