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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Paxb2u who wrote (37782)	7/25/1999 10:15:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 116764

Peter, I see many subtle macro forces now moving in Gold's favor. I use technical analysis as a secondary tool here. I don't follow ABX closely as I prefer companies that do not hedge or have a modest hedge in place. From glancing at ABX's chart, however, I think the island reversal you speak of to the downside is inconclusive. ABX has the biggest weighting in the XAU ( Gold and Silver Mining Index ). If the XAU is going to break above the neckline in the chart I posted, then ABX will have to rally and be one of the leaders in any initial Bull Run. The key here, however, I think, is to get the rally to broaden out beyond ABX and NEM and have PDG and especially HM outperform the XAU. I always look at HM to see if a rally in the XAU is more than countertrend and has staying power.