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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Little Joe who wrote (21683)10/4/2003 10:55:18 AM
From: Andrew  Read Replies (3) of 39344
 
Usually bottoms are more volatile as you will note on a chart of the VIX.

stockcharts.com[w,a]wacayyay[pd20,2!b40][vc60][iLa12,26,9!Lh14,3]&pref=G

This move down in the gold price wont last. We'll see Sunday night when Asian trading begins.

Though this doesn't mean the equities aren't going to move down.

By the way my 365 target got hit to the dollar and on Schedule. We'll see if it can hold. From the header in the Gold & Gold Stock Analysis thread I started original post on 08/16/2003.

Subject 54201

GOLD IS IN A BULL MARKET.

Next stop 385

Technical analysis is IMO very much of an if this then that science/art. My take on the next year or so.

1 - a decisive break out of this triangle takes gold to 385 - 390 in the next few weeks/month (mid Sept)

2 - gold then comes back to 365ish area and gets support on lower trend line (early-mid Oct)

3 - next move up pushes gold to the decade plus resistance at 420 (mid Dec-early Jan)

4 - a quick retrace to 385 - 390 (mid-late Jan)

5 - price turns upward once again and smashes 420 with a move similar to the break through 330 (Somtime in Feb)

Target 450 - 500 (Sometime next year)

The trend is still up and you can see on the gold chart that the trendline has not been breached. For now target remains 420 for Dec-Jan.

And My DOW target for same period is 6500 - 7000.

I continue to trade gold shares long and Tech shares short.
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