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: Yogizuna who wrote (6518)	2/13/2007 12:28:09 AM
From: Wade	Read Replies (3) of 48092

Nice chart. The whole market is waiting for the G7(or 8, or 9) meeting to be over. They will discuss the recent weakness of Yen by Japanese manipulation. Any outcome could be major market mover. I think the lagging behaviors of gold shares reflected this concern. Any fundamental changes of Yen's carry trades will impact many financial assets. I am watching 20, 60, 120 and 200 DMV of XAU closely. It appears that 60, 120 and 200 DMA are jammed at a very narrow horizontal zone, and 20 DMA appears ready to make a major statement. But, not quite there yet. We'l have to wait. I think you will get the chance to load up your truck.<G> GLD shows very good set up of those moving averages too. However, gold stocks are still too weak to call POG at wave 3 by Alf Field: gold-eagle.com It is an interesting read any way. POG need a lot of supports from the gold shares to run much higher. I feel that POG is probably still in the X wave starting from the low of wave c in his chart. In any rate, I'll just do what JS said, sell 1/3 into strength and buy back at pull back. This strategy has worked for me and kept me climbing the wall of worry. <GG> Godo luck.

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