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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (7710)	5/9/2001 11:14:25 AM
From: Daveyk	Read Replies (2) \| Respond to of 19219

I'll admit it's hard not to take profits on NEM.Looking at the volume and chart it's looking like a breakaway gap which is bullish.PnF target still 29.50 Congrats to us both for waiting.I'm considering selling calls.Maybe June 22.5's but not yet.Gotta let the soup simmer a bit longer.

To: J.T. who wrote (7710)	5/9/2001 11:38:06 AM
From: Daveyk	Read Replies (1) \| Respond to of 19219

Check out the PnF chart.19.5 was another buy signal.Notice the ascending triangle?ggg stockcharts.com

To: J.T. who wrote (7710)	5/10/2001 12:34:22 AM
From: J.T.	Respond to of 19219

Sharks smell blood and circling da waters... All on the eve of the GATA South African Gold summit later today/tomorrow **************************** From CBS Marketwatch marketwatch.com Metals stock indexes rally; gold's technicals attract bank buyers By Myra P. Saefong MarketWatch.com May 9, 2001 NEW YORK (CBS.MW) -- The benchmark indexes for metals- related stocks rallied to their highest level in nearly a year Wednesday as gold prices broke above $269 an ounce for the first time in two months. Charles Nedoss, a gold analyst at Chicago brokerage house SpikeTrading.com attributed gold's price rise to technical moves by traders following a break above the futures' price trading range over the last several days. Gold "tested its upper boundary," prompting investors to buy into the market, he said. "Banks have been the best buyers on the day." "Gold and gold stocks have been signaling a higher move and it was just a matter of time, sooner than later, that it would make a move," John Mesrobian, president of Williamsburg, Va.-based Constantinople Advisors, said. Wednesday's move was based on several issues, including concerns over the U.S. dollar, which is about to decline in value because the Fed is flooding the market with it, Mesrobian said. Gold is now "moving up to its real true value amid concerns about the equity markets," he said. The CBOE Gold Index rose by 7.5 percent to 40.66, and the Philadelphia Gold and Silver Index climbed by 6.6 percent to 59.17. Both indexes touched highs that haven't been seen since June of last year. Among the indexes, shares of Newmont Mining tacked on $1.96 to close at $20.73 and shares of Placer Dome Gold climbed 65 cents to settle at $11.03. Gold futures prices climbed Wednesday, following a break above their recent trading range between $264 and $268 an ounce. Gold for June delivery rose by $4.90 to close at $270.40 on the New York Commodities Exchange. Silver for July delivery rose 8 cents to $4.36 an ounce. Nedoss said there weren't any fundamental reasons for the gold buying, although traders are looking toward the Bank of England's gold auction on May 15. On the supply end, Comex gold inventories were unchanged at 839,625 ounces by late Tuesday vs. the previous session and silver stocks were also flat at 96,367,534 ounces. Meanwhile, June palladium gained $3.90 to $674 an ounce, while July platinum added $6.90 to $611.70 an ounce. The July contract for copper, an industrial metal, declined by 0.5 cent to 76.35 cents a pound as Comex inventories climbed by 991 short tons to 128,764 tons by late Tuesday. Supplies at the London Metals Exchange were down 925 to 444,775 metric tons as of early Wednesday. In related metals news, the Gold Anti-Trust Action Committee (GATA), based in Texas, is expected to attend a conference in South Africa Thursday to air its belief that the U.S. and German governments as well as bullion banks, have been suppressing gold's price. GATA has been alleging Fed manipulation in the gold market for years, David Meger, a senior gold analyst at Alaron.com in Chicago, said. "It is hard to prove the Fed ... is working in conjunction with large trade houses to manipulate gold prices," he said, noting that he can't fault someone for "attempting to find out for sure that nothing fishy is going on." -END- Best Regards, J.T.