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Gold/Mining/Energy : Precious and Base Metal Investing

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To: re3 who wrote (20035)	9/10/2003 4:32:30 PM
From: gold$10k	Read Replies (1) of 39344

Retired, My view is that many moves both up and down happen without fundamental reason... just market stuff... technicals, etc. RGLD bounced off of its 200 dma @ $20.65. Many will look for that level to hold or else they will sell. The uptrend line of the past 6 months has been violated and the longer term uptrend line of the past 20 months is around $18.50. A close below $18.84 would mark a lower low... a bearish sign. Although the sector still looks good, weakness like this in a former leader may indicate rotation within the sector at a minimum, e.g. DROOY and ANO/U.TO are strong now... or possibly that this rally is getting a little tired... needing some $400 POG aqua vitae. I continue to keep my eye on the exit door. stockcharts.com CNI.TO is having trouble with resistance @ C$12.20 and will likely consolidate further with a possible pullback, but very strong fundamentals will drive it higher at some point. stockcharts.com Tech will probably move higher after another day or two of lingering around C$14. stockcharts.com Just my opinion (since you asked <g>). Best, vt

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