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 (1365)	3/5/2004 10:35:34 PM
From: Wade	Read Replies (2) of 48092

We finally see the reversal of POG when weak US job data was released today. Looking back POG is just a hair line from breaking down when USD almost hit 90 and the POG/SPX ratio almost fell through the support line at July 03 low: stockcharts.com[w,a]waclyyay[de][pb50!b200][vc60][iUb14!La12,26,9]&pref=G The POG chart: stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60][iUb14!La12,26,9]&pref=G indicated a possible inverted head-and-shoulder pattern. Today's price is just at right side of the head. If this pattern materialize, we would see POG rebound to 415-420 in about two weeks, then pull back to 405 to 410 to form a higher right shoulder. Then, the following reversal will take us back to 430-435 by the middle of April. We may see a small pull back to ~420, then break out the handle to higher level in 1-2 weeks. Therefore, I expect the next leg of rally to begin from the end of April or latest at early May. We'll need many more new investors to join this rally. It will take time for them to get ready to act. Good luck. Wade

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