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

To: marginmike who wrote (9655)	12/26/2001 3:36:11 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

We are lead gold COT sled dog. <g> Best Regards, J.T.

To: marginmike who wrote (9655)	12/26/2001 3:42:21 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

Did da big boyz have a ramp job this morning to sell into and lock in profits da last hour of trading in SPX and NDX? Best Regards, J.T.

To: marginmike who wrote (9655)	12/27/2001 12:30:02 PM
From: J.T.	Respond to of 19219

We got good company in gold/gold stocks..namely John Roque: Click on the URL link for charts: thestreet.com Skip the Frankincense and Myrrh and Think Gold By John Roque Special to TheStreet.com 12/27/2001 07:41 AM EST Editor's Note: John Roque's column runs exclusively on RealMoney.com; this is a special free look at his column. For a free trial subscription to RealMoney.com, click here. This article was published Dec. 26 on RealMoney. People have laughed for so long at gold that it shouldn't surprise anyone that they're still doing it now. In years past, the laughter was justified because the metal and the stocks were in big downtrends, while other items were working fabulously. But the laughter is increasingly becoming a contrarian indicator because the stocks and the metal continue to improve slowly. Combine slow improvement with stocks and a commodity above upward-sloping moving averages. Add to that bearish-to-uninvolved investor sentiment, and pretty soon you have a recipe for nice upside action. In a recent column titled Singing Along With Greenspan, I wrote the following: I think gold and gold stocks are going to rally. This idea seems to fit with the rate rising on the 30-year bond. The spot gold price is above its upward sloping 200-day moving average ($275.35 vs. $272.32), and though the stocks haven't worked in the last month (!), I still feel the group will work higher. Freeport-McMoRan Copper and Gold (FCX:NYSE - news - commentary - research - analysis) looks as if it is making a major low. The stock is above its 50-day and 200-day moving average and is, in my opinion, in a sweet and still largely avoided sector. I think this stock works -- but it will take time. Use pullbacks to the $11 area to add. Best stop is $9.95. Freeport closed Friday at $12.50, so today I thought it'd be a good idea to go into this concept in more detail. Here goes: Source: Arnhold and S. Bleichroeder -------------------------------------------------------------------------------- Source: Arnhold and S. Bleichroeder Granted, gold and gold stocks come with a ton of baggage, so it's easy to understand why nary a bullish comment is spoken about them. As peculiar as it may sound, I almost think that saying something bullish about gold and gold stocks is akin to attending a meeting of the He-Man Woman Haters Club, made famous by Spanky and Alfalfa from The Little Rascals. (Please hold the nasty emails -- I'm kidding.) Aside from Freeport-McMoRan Copper and Gold, another gold stock that might work higher is Ashanti Goldfields (ASL:NYSE - news - commentary - research - analysis). The stock has been consolidating since July while remaining above its upward-sloping 200-day moving average. The downside is that the stock is priced low, closing Friday at $3.63, and volume isn't great. All in all, though, the pattern is too good to ignore. I expect the stock will be able to work to the $7 level. The best stop is $2.98. Please take a look at a weekly pattern for some nice long-term perspective. ********** Best Regards, J.T.