Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

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To: MiKe who wrote (62)	5/9/1998 11:59:00 AM
From: Baywall	of 210

Mike, The technical systems which I use try to anticipate the news. There are other systems which monitor prices and do not attempt to foretell the news. For example: MACD and Relative Strength ratings monitor prices in their own ways. For more information try: "Technical Analysis from A to Z", by Steven Achelis. Look at RSI p.255; PVT p.239. For both, focus on divergences. Formulas and charts are explained for both. Get consensus of 2-3 systems and a price trendbreak before buying or selling. For Geodex, the trendbreak should occur at the 40 cent level to be safe. I have composed various charts by hand. This was supplemented by books (some over $130), nearly 2 years of full-time work on technical analysis and a trip to London England for research on the subject. Modifications and back-testing the various systems took up most of the time. If you wish to persue fundamental analysis on more established firms I recommend the booklet: "How to Invest in Common Stocks", by Value Line. Note the Coca-Cola Company example (Warren Buffett favorite), especially the "sustainable internal rate of growth" concept; ever increasing and over 20%. One caution in earlier message of May 8: It is dangerous to average down a stock which is in a well defined downtrend. For technical analysis then, maybe use Meta Stock software to chart Agate/Geodex over the past 2 years, noting all divergences near the highs and lows. Whether all of this work will pay off still remains to be seen. Kaiser's earlier comments on Agate reflected his analysis of the Chimborazo project at that time. He wants much softer acquisition terms and was concerned about parameters of deposit not being increased by infill drilling. The greatest expansion of tonnage will be done by extension drilling and on adjoining property held by BHP. Also, Inmet's leaving had him concerned. All these issues are being currently addressed by Geodex and the other parties. The hiring of geologists, possibility of new acquisitions, and financial support from the principals involved indicates some direction and commitment. Only the actual news releases will shed more light on these activities. Leonas Labenskas

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