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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 408.23

+2.3%

Dec 22 4:00 PM EST

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To: SwampDogg who wrote (7952)	8/22/2007 8:46:48 PM
From: jimsioi	Read Replies (1) of 29622

SWampDog, pretty complicated Elliot stuff, Silvers Problem I have with such reasoning is that one mistake in the count and the whole theory about the longer term moves seemingly (at least to me) goes up in smoke. His pattern does appear to be a possibly logical extension of the PM miners long running consolidation, at least with respect to the indexes, heavily weighted with ABX and NEM... My feeling is that Gold and miners will most probably begin to move if the dollar falls because the FED has to flood the system with money and buys longer dated treasuries to keep rates down so mortgages can be refinanced, diminishing the severity of an economic slowdow. My personal read is the FED knows the risk to the dollar if it monitizes and lower rates and is highly reluctant to take that course. Consequently, I view with suspicion today's feel good rally... Checked out the Gold/ Silver ratio...breakout in favor of the yellow... stockcharts.com Don't think I'll be reentering Silver Miners anytime soon... Copper has to hold its 200 day ema here or the rally in zinc and copper stocks will likely abort... stockcharts.com Breakwater Resources had a good pop today, breaking above a steep downtrend line...Can it make a 50% recovery on the downdraft? I think I'll be a seller on the first attempt. stockcharts.com Playing it pretty cautiously...50% in cash and gold...

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