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Gold/Mining/Energy : Canadian blue chips

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To: bill who wrote (23)5/25/1999 8:11:00 PM
From: bill  Read Replies (1) of 36
 
Well, EBC.A is giving mixed signals. It has twice now held its own
in the face of a broad market sell off. That's very bulish for the
future. However, every indicator on my chart is showing a downturn
in price. No way to tell how deep the downturn but MACD is negative,
the MA's are converging in a negative pattern. The OBV is holding
its own. Not moving up, not moving down. If the indicators weren't
so negative, I'd buy back simply on the strength in the face of
a 123 point drop on the DOW and a 166 drop on the TSE. I checked
a brokerage report.It's a couple of weeks old but it's got a price
target of 30.00. A lot may come unravelled, of course, if the
rumour of three interest rate hikes in the US before Jan. 1, 2000
is true.
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