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Gold/Mining/Energy : Alta Gold
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To: XOsDaWAY2GO who wrote (397)1/23/1998 6:03:00 AM
From: Francois H. Gaston   of 749
 
Virgil: I feel the same about the gold situation.
Barbara: good luck.
ALTA will drop if the gold ounce and XAU drop...BUT I think ALTA has placed a solide bottom at 1.25 $ and one has to decide when to get in. Retrospectively, this time might appear has a golden opportunity because few are now daring to invest in gold. ALTA just closed above upper Bollinger Band. NVI looks great. On Balance Volume (an index of accumulation), is turning a bit up over the last trading days. Trading volume is on the high side considering the number of shares availlable. I am still bullish on the whole situation for gold and especially ALTA. (IMHO as always). There will be periods of profit taking if we are entering a consolidating phase rather than uptrend.
As stated in a previous post, I think that Europeans will be buying some gold at this price. Actually, on KITCO's thread (http://www.kitcomm.com/cgi-bin/comments/gold/display_short.cgi) they mentioned last night that Germans and Frecnh are probably accumulating gold (in view of the strength of gold price there, recently) and that Central Banks (http://www.telegraph.co.uk/et?ac=000626887307950&rtmo=99999999&atmo=99999999&pg=/ixworld.html) may be accumulating gold (instead of selling). A Swiss banker sees some consolidation between 290-295 and support at 290 and 288... which would solidify this double bottom for gold. Note that you probably will have to register if you want to read the whole article.
Good luck all.
Gaston

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