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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 379.87

+0.4%

Nov 11 4:00 PM EST

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To: Eva who wrote (979)	12/13/2003 1:15:21 PM
From: Little Joe	Read Replies (1) of 29622

CHART UPDATE Must be addicted. Here I am on vacation and feel compelled to analyze and post. I think the key to what is happening is in the weekly chart. So as not to bear the wrath of "she who must be obeyed" I will be brief. Look at the weekly chart of Newmont bigcharts.marketwatch.com You will note a trendline along the lows beginning in approximately April. The recent break tested this trendline but did not break it. I think that before one can turn bearish this trendline needs to break. Also, in spite of all the overbought hype this trendline is moving at a quite sustainable rate. In other words on a weekly basis the golds are not overbought. If you look at charts of the HUI, GG, and other large cap leaders you will observe the same pattern. Sorry can't take time to post these as I am being summoned. Little joe

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