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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 398.95

+0.1%

Dec 30 4:00 PM EST

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To: Little Joe who wrote (1009)	12/24/2003 2:22:27 AM
From: Andrew	Read Replies (2) of 29622

Here are some more charts I am looking at tonight I have been looking at the intraday charts more to get my timing down to the hour for entry and exit during this corrective phase. I have been sticking to the large cap liquid names to allow quick moves. I did not trade NSU or AZS. These charts are 15 min 10 day. XAU chart.bigcharts.com chart.bigcharts.com XAU with HUI cmparison. Clearly the HUI has more leverage in both directions. Both indexes have broken out of well defined falling wedges and should see some upside over the coming days possibly testing the recent highs of 243ish on HUI and 109ish on XAU. chart.bigcharts.com GG with HUI comparison. Goldcorp has underperformed since the announcement of the sale of 5.5 million shares by CEO. Is this an over reaction by the market and a good buy opportunity? I've been watching the trading closely in Goldcorp on the Canadian side and notice large sellers over the last week or so out of a few brokerages but they seem to be slowly running out of shares. If these are fund(s) blowing out their shares they are doing a great disservice to the holders of their units. Why wouldn't they have sold into strenght a few weeks ago instead of bid wacking? Stupid!! chart.bigcharts.com PDG briefly underperformed the indexes after a news updating 2004 production guidance which IMO opinion wasn't bad. The stock has regained its composure since and is now ahead. chart.bigcharts.com KGC after a stellar rise has underperformed. I'm unsure about whether it will catchup on a rebound. chart.bigcharts.com AEM looks to me that this stock has stabalized now after its news shocks of 2 months ago. Word is that mining is back to normal and the problems are behind Agnico. chart.bigcharts.com Daily charts AZS.V getting nice support in the 4.80's above the 50 day MA chart.bigcharts.com NSU.TO getting support in the lower 6's, daily MACD crossing up. Just completed 68 million dollar finance with 4 month hold period. I'm looking forward to the warrants when they start trading. I think they were 5 year $10 strike. Problem is they might be in the money by then and pricey. IMO the recent drill results were very good but overlooked by the market during this gold stock correction. I think there are more holes to be reported from the current drilling and more drilling in the new year plus a resource estimate so news will flow steadily from Nevsun. The holes seem to be faily rich and with good widths. IMO they have a mine in Eritrea, just depends how many million ounces they prove up now. chart.bigcharts.com GG. Goldcorp looks like a falling wedge. lots of bars touching that lower trendline of the wedge in the last few days. Yeasterdays hammer may be indicative of a short term bottom. chart.bigcharts.com NEM daily has a hammer also. Uptrend still intact. chart.bigcharts.com AGE.TO Agnico 3 year weekly chart looks like a two year falling wedge. This stock may perform very well if all the operating issues have been ironed out. chart.bigcharts.com I have positions in all but NEM. IMO we may see another nice bounce in these and most other gold stocks like the last one when HUI hit 220ish. I am not convinced that the correction in the gold shares is over however. For me to be convinced I need to see Gold break over 415 decisively and hold above 420. If this happens the XAU and HUI should be making new highs by then. It will be interesting to see what kind of pattern developes on this bounce I'm expecting. When I sold my large caps a few weeks ago it was because the HUI and XAU broke down out of sharply rising wedges.

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