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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Jan 9 4:00 PM EST

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To: John Pitera who wrote (48309)	4/6/2013 9:08:24 AM
From: Fintas	Read Replies (1) of 221579

Just a tidbit for you and others re Precious metal sector that includes GOLD.. Bell curve sector shows the precious metals fell from that 18 that I mentioned recently to the 12.9. It's near term momo bounced to the 60 area. Well off the lows. Unfortunately the fall from grace took out the previous near term low of 16 to now have that sector sitting at 12.9. So can Gold get a bounce? Yes, but I'm sticking to the numbers I put up long ago that GOLD drops to the 1400's. Why? That near term momo will run out of gas, will drop down from the 60 area or where ever that peak is and as it does cause the 10, 30 week to go lower and as that happens to try to retest this 12.9 area. If we bounce from such or do not then the sector will go a bit lower. If so,THEN I'd say the precious metals have seen their bottom. Here and now: NOT! All to say if any are buying in the 1500's..Jack be nimble, Jack be quick. But don't be surprised to see the 1400's before this is done. Long term though I see GOLD and the precious metals going higher, much higher. Nice analogy. Fintas

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