Steve: Sorry to be so long in getting back to you. Yes, I'm pretty much of a fundementals person. I like to C$ for all of the basic reasons...tackling debt, lower interest rate last week(this is particularly inviting given the US inclination to do the opposite), lotsa foreign $$ coming into the country for mining & exploration. Further I don't forsee a Quebec problem arising in a serious fashion for about 2 more years...and if they go, so much the better for the C$. Many other things look inviting. I spend less time on charts than I used to, but that's me.
The main thrust of late is largely fueled by the rate drop of 7 days ago(as I see it). This is kind of a good "feeling" jump, but what is nice is that I think several of the chart gurus will read this as a technical green light and keep things going for a while. I see about 2-2.5 cents upward drift over the next 60-90 days. My opinion,,,not a recommendation to buy or sell, etc. I tried to expand the other day with pretty serious long order at 7430 (Mar, 97). Didn't get in. Now I'm in the unenviable position of chasing this market. What do your charts say?
Regards...Jeffrey |
