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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who started this subject	2/7/2003 7:54:21 PM
From: jimsioi	Read Replies (1) of 39344

Notice Gold closed higher for the week. Fact seems to be almost missed and certainly DISMISSED by those who want to see GOLD go lower. futures.tradingcharts.com The DOW / Gold index made a new low, as you pointed out on the SDII thread, for this corrective cycle this week as well. In the broader scheme of things the hike in the COMEX margins is a none event, imho. Margins are regularly changed when the volitility and price of a commodity rises. Good excuse to put on a technical correction in an over excited bull market.....this isn't the NASDAQ pre2000, things can only get so bad and the world not end, Nervana is limitless. valutrader, thought about buying something precious metal oriented going into the close as you did, especially as I'm now down to 13% in the PMs....near insurance only levels for me and very low in view of the still rising GOLD price (see above chart) and still positive DMI indicators on the daily and weekly HUI. If nothing happens over the weekend suspect we'll see a stable slightly lower opening in the miners...only a question if longs then begin to bail as the 50 day emas start to go, those that haven't already, and downside momentum increases. All seems a bit to pat and expected....like a rerun of deja vu....Being so light I'm concerned about a surprise, I'll admit.

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