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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.29

+0.6%

Nov 7 4:00 PM EST

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To: Andrew who started this subject	8/16/2003 10:52:03 PM
From: gold$10k	Read Replies (3) of 29622

Hi Andrew, My approach to gold and other metals stocks is create a list of "approved" stocks based on fundamentals and to buy and sell those "approved" stocks based on technicals. In his very bullish recent article, Clive Roffey says, "But at this point of time prefer the undervalued and to some extent ignored gold stocks. The laggard of the whole gold market has been Durban Deep." 321gold.com I agree and had been accumulating DROOY in the $2.20 - 2.50 range. Since its run up to $5.88 a year ago, it has been finding support in the low 2's and it's volatility has decreased. See the weekly chart below... stockcharts.com I have seen this pattern before. I don't know if it has a name or not (it could be viewed as simply a flat bottom triangle), but it more often than not portends a return to the previous peak and higher once the downtrend line is broken. DROOY's downtrend line is about $3.40, but one of the other factors that gave me confidence about DROOY was how close to the one year long support I was able to buy. Another was the absurdity of expecting a bull market in gold to fail to value DROOY's huge mothballed supply of unmined gold which would become economic at higher prices. Another gold stock with a similar weekly chart pattern that has just broken above its downtrend line is ANO.u. stockcharts.com Other gold stocks with year long triangle patterns and rising bottoms are MNP.V and APG.TO. These 4 are my biggest gold stock positions. Thanks for starting this thread. Regards, vt

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