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Strategies & Market Trends : Effective Trading In Our Markets. Learn, then Earn
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To: Frederick Langford who wrote (762)6/14/2002 4:01:13 PM
From: HoodBuilder  Read Replies (1) of 1854
 
Fred,
This is one of the few posts on this thread that has mentioned gold. I too believe we are in the early stages of a bull market for precious metals and the POG has heavy support at 310 but is holding the 316 line so far which is bullish. The XAU held 75 and if we can put together a few consecutive up days it would be very constructive. There are a ton of ex-internet stock speculators who have chased the gold stocks in hopes of recovering losses and they need to be shaken out before a real move begins.

I buy and sell the liquid gold stocks as a hedge to my long/short trades and it has worked well. One more downward head fake on volume should be enough to shake out another 20-30% of the weak hands. The P&F charts are looking OK and many have just 3X reversed.

Hope you're riding the gold bull to profits.
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