Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (1248)	1/14/2004 7:35:37 AM
From: ~digs	Read Replies (3) of 48092

If the market was able to go up in spite of the dollar falling as it has, than a reasonable assumption might be that it is then able to rise during a market decline. Of course, both scenarios seem to defy conventional wisdom. Your use of margin may therefore be a costly decision. From a weekly perspective, the dollar has clearly reached the lower end of its downward channel: stockcharts.com[w,a]waclynay[pc40!c200!f][iut!Ul14!Uk14]&pref=G A corrective bounce which leads to an index reading of ~92 would not surprise me. In addition, the weekly chart for Gold remains in an overbought condition: stockcharts.com[w,a]waclynay[pc40!c200!f][iut!Ul14!Uk14]&pref=G My opinion is that it may retest the 390 region during the first quarter of the year.

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