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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Little Joe who wrote (18922)	9/1/2003 1:48:58 AM
From: jimsioi	Read Replies (1) of 39344

Little Joe, nice piece of work.. Appreciate the recap...Observations I have about long term charts is that they are often not comparing the same company....given corporate developments and share issues...nor do they account for changes in investor sentiment or knowledge.... The long ago runs in some of these miners came when the number of shares outstanding was smaller and before people learned something about valuation....lessons learned from the internet craze....GSS and HL come to mind. I'd like to see a chart that overlays Ounces of reserves per share and cash flow per share to have full confidence that those valuation trends for these bullish miners are as positive as they are for price....About the only thing rising faster than price are shares outstanding. As to HL not being over bought....well, it has been more overbought in the last three years using the PPO indicator and the DMI as examples...this is not unusual to see, as I found the first moves in a cycle usually register high degrees of overbought than the later .... though dollar or cent price appreciation is greater in the final stages of a move. I'm more interested, then, in the turns in these indicators from levels of “overbought” than I am in absolute levels. HL's DMI and PPO are at the higher ends of their respective scale....The PPO has turned down and the DMI is fluttering....higher risk situation exists at this break out juncture than I'd like to have a full allocation committed to ... .....falls in this stock have been horrendous. If the overbought readings weren't high enough for a chart reader in early '03 to suggest action, then he or she saw their investment cut in half before recovery came in.....The readings on the two indicators noted and pictured are now higher (maybe overbought) than they were in '03. One of them has turned down... stockcharts.com[h,a]dbcayiay[df][pb40!c200!f][vc60][iut!Ue12,26,9!Ul14!Lg!Lb14!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G If gold holds up I'd expect some type of buyers' capitulation early Tuesday. jims101

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