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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (54181)	8/1/1999 11:01:00 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 86076

Luc, XAU - Had a couple of higher highs that culminated in a reversal that broke a triple bottom. It looks like this might have been a bear trap though as it seems to want to head toward the recent highs. However, if it hits 61, all bets are off as it would set a lower high and gold will return to being the piece of crap that we all know and love. Still below the bearish resistance line so it is still considered to be in a downtrend. ASA - Chart looks almost exactly like the XAU chart with a couple of higher highs and then a retracement down to a triple bottom break. Only difference is that it hasn't reversed positive quite yet. A move to $16.5 would get it going in the right direction. It does look like it is lagging the XAU so you might be able to ride it up and get out if the XAU breaks down. AU - Looks like the strongest chart. Mostly consolidating in the 18.5 to 22 range. Triple bottom support at 18.5 and a buy signal at 23. Precious metals are still classified in a bear market, however they are at very low levels as far as their bullish percent which would imply extremely oversold. This implies that there is a lot of upside when the get out of the bear. Of course, they have been at these oversold levels for a couple of years now. Basically P&F would not indicate that gold was a buy yet, however other than one tech stock that I am married to, the only other stock that I own is NEM. Then I also have a bunch of MU puts. You can see what my leaning is. (I often pull the trigger on my positions before P&F gives the actual buy or sell). JXM