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: gold$10k who wrote (30848)	8/26/2011 2:59:22 PM
From: ItsAllCyclical	3 Recommendations Read Replies (1) of 48092

EW wise, sentiment wise, value wise it appears we're on the cusp of a 3 of 3 coming. I've mentioned this before as have others here on SI and elsewhere. There are compelling arguments to still be cautious and to use your approach as well. If the 3 of 3 scenario plays out then we still have either a C to play out off the top in POG, or we'll have to wait for an abcde off the top (sym triangle). It can of course look more similar to silver off it's 50 top, but I think a better comparison would be the consolidation action in silver late 2010 after it hit 30 for the first time. Don't chase, but continuing to add on dips like you've been doing seems like it posses very good risk reward here. Gold is going to go parabolic. Question becomes is it a ST blowoff or will this be simply a steep trend change with more volatility (3 of 3). I'm banking on 3 of 3. Weekly Gold RSI needs to cool off a bit and then we should start the big move. Until the GDX is at all-time highs I favor adding here for diversity, dividends and liquidity. Once the breakout comes I'll look to get heavier into some quality laggards/favorites.

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