Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (66640)	8/6/2009 9:13:02 PM
From: Tommaso	Read Replies (2) of 78406

>>> $3.50 was a level of resistance from two previous highs. With the break today it now becomes support. Very positive. <<<< How can it be support when it has not yet crossed it on the upside? finance.yahoo.com And how can it be a "level of resistance" when the price simply dropped right through it last fall? Disclosure: I consider all technical analysis total nonsense. NGD is a good stock because of the way the company is being managed, and the stock is still low because of the peculiar and irrational decline of gold mining stocks late last year which was largely the inverse of the peculiar and irrational strength in the US dollar. My own holdings of NGD have more than tripled since I established them last November and December. So far the only mistake I have made is to diversify into other gold juniors. Most recently, I sold 10% of my position to make a payment on estimated income taxes for 2009.

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