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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.18

-0.5%

Oct 31 5:00 PM EST

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To: loantech who wrote (6083)	5/4/2007 3:13:15 PM
From: gold$10k	Read Replies (4) of 29622

In the book "Reminiscences of a Stock Operator", amazon.com a mildly fictionalized Jesse Livermore describes how before buying a stock, he first sells some tens of thousands of shares of that stock to see how the market reacts. If the stock is consumed by the market without an appreciable drop in price, then he will buy with confidence that the market will support him. This is related to my idea of waiting to see how the gold sector handles the next little pullback (watching the hourly MACD) before adding to my position. It also wouldn't hurt if prices were somewhat better. If HUI follows the common scenario of holding above 345 today and selling the rubes' Monday morning rally, then Wednesday or Thursday (maybe Tuesday) would be a likely time to buy. We'll see.

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