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Gold/Mining/Energy : Alta Gold

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To: virgil vancleave who wrote (378)	1/17/1998 10:45:00 AM
From: Francois H. Gaston	Read Replies (3) of 749

I bought ALTA big time Friday... for the following reasons (hoping they are correct!): (a) ALTA has not participated yet to the recent up moves from gold stocks (b) Griffon, insider buying, low PE... great (c) Double bottom possibly in for XAU, FSAGX, ALTA... (d) TA shows tight Bollinger Bands (usually shortly followed by a break out, up or down) (e) Negative Volume Index (NVI)... reflecting what the smart money is doing, is in an uptrend for ALTA, while ALTA stock went down: usually bullish!... Similar pattern in January 1997 (f) Europe is not selling gold right now (IMHO) (g) South Korea showed that owning gold is great when a currency is devalued (melting their jewlery for strong $) (h) China understand South Korea move and buys all the gold it can.. then will devalue their currency... then will sell tehir manufactured goods cheaper...(Just a guess IMHO) (i) US investors, Banks... (seing this China move) buy gold big time to make money for themselves and possibly China loading up too much (A guess) (India is a gold buyer too, with decent currency) (j) autralia sold all of its gold reserves allready and one autralian goldmine is buying up its own shares (k) pessimism for gold is still very high (good!)... (l) historical good December-January-February effect for gold (m) Ounce in $ is more expensive despite a stronger $... Oooohh! A big time breakout is possible for gold as shorts could dissapear in a flash... Good luck all Gaston

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