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Gold/Mining/Energy : Precious and Base Metal Investing
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To: jimsioi who wrote (7613)2/9/2003 2:59:31 PM
From: SliderOnTheBlack  Read Replies (4) of 39344
 
re: Don Coxe[" "This pull back in GOLD should be used to add quality miners."]

Hmmmm ?

Seems like this was actually a "Too Far, Too Fast & Too Easy" Run UP that should have been sold in my opinion.

"This" pullback ?

...as opposed to the one's in July, Aug & October last year ?

You also have to ask; just who is SELLING all of this Stock & Why ?

Is all this stock being brought to market (secondaries, converts etc) more indicative of a cyclical top, or a buying pullback ?

We've had a 3.5 bagger return in the HUI Index...from 35 to 150+.

We hit the same Resistance-High of HUI 150ish nearly one year ago...and with virtually "NILL-NADA-NOTHING" to show in the way of "new higher highs" ...that, along with a 3.5 Bagger Index Run - is not early cycle and with this now double-failure to penetrate HUI 150ish to new highs...I'd say that resistance failure now walks, talks, waddles & looks more like a potential Double-Top Duck; than a pull-back buying opportunity.

We had a parabolic run from Jan to May last year that was sold off/dumped into at HUI 150 - leading to a 60 HUI Point selloff in 7 weeks, with 35 points occuring in just 5 days.

"THAT" was the PULLBACK that should have been BOUGHT...and "THIS" was the RUN-UP that should have been SOLD.

...only time will tell.
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