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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: rolatzi who wrote (4090)	11/16/2001 6:30:35 PM
From: isopatch	Respond to of 36161

rolatzi. Unfortunately, no guarantee on that. Slider & I have both been emphatic about the golds being one of the hardest sectors to time. The entire capitalization of all the gold stocks combined is really quite small compared to other sectors that are the focus of comparable levels of investor interest. Combine that with rampant manipulation by many anti-gold governments and you have incredibly erratic price action to wrestle with. Candle patterns, volume studies, basically TA analysis of every description has repeated crashed and burned for those who've used it to play the golds. Personally? Use about 80/20 emphasis on fundamental work vs TA in the golds. Find TA works a whole lot better in other sectors FWIW have long been convinced that as part of their effort to hold down gold prices, the PPT intentionally times their interventions to attack and prevent popular TA patterns from activating tradable rally phases. What better way sabatoge bullish traders and discourage people from pursuing any involvement with gold related investment vehicles. Kill the TA bulls on each rally attempt and over time there's less and less buying support for gold and gold stocks. Don't kid yourselves folks. Rubin, Greenpimp and the PPT clowns who work this beat, KNOW how to read charts and know the ins and outs of candle magic a lot better than "The Boston Bomb Crater"<g> who I also like to call Liberace (Slider knows who I'm talking about<G>). Right Sly? Anyway, the key is keep your cool and be patient. In the case of NEM (and I like the stock very much LT) in the ST it could more dip still further IF AU ups their bid for Normandy. No way to know that. Just have to wait and see. Hope your position works out for you. Cheers, Isopatch