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

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From: Wade	10/1/2006 11:29:55 AM
	of 48092

kitco.com "Choppy markets make for choppy results. We all know how gold and silver got trounced when poised atop the cusp of our annual fall rally. Our markets were deliberately ambushed but long term market trends will not be defeated. Today, Tuesday, September 27, base metals, precious metals and energy markets moved in a positive direction for gold and silver. These markets are all correlated and affected by the U.S. Dollar, USA bonds and notes. Finding your way out of this trading wilderness is discovered with three ideas: (1) Use long range charts. (2) Use fundamental market information. (3) Work from the longer technical view of weekly and monthly price activity. Daily reports and charts are filled with misdirection. The daily news is spun from the anti-gold crowd deliberately. Ignore the news and watch closing prices and fundamentals. Recent moves to suppress gold and silver while propping the dollar and general stock markets have worked splendidly for those instigating these moves. However, for now, the worst seems to be over and more importantly, visible chart patterns show strong basing support for our precious metals forecasts. It is possible sellers could take one more whack at metals but we believe this is over at least until the next rally cycle after Thanksgiving. Technically, however, we forecast a new short term high to $620 resistance followed by a correction back to $575-$585. These price moves are the prelude to the next gold and silver rally to $850-$873 gold and $20 silver."

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