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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (3208)	4/22/2002 6:59:07 PM
From: TrueScouse	Respond to of 39344

Wayne: <<I did mean SWG.T>> Bought some more of that today! I'm still trying to rotate some of my pf, from high flyers to laggards. I doubt if this is a particularly good idea in terms of overall profit, but it's cutting down on the volatility of my pf. There's only so much I can take :^) On Friday I took some profits in MFL and HL, and today I put them into some more SWG, MAN, and a new position in NGX. I'm trying to further diversify my pf because I know that things could go crazy if a new POG bull really gets confirmed. What I do think is that we are at "crunch point" in terms of confirming the bull. The gold chart shows a huge ascending triangle formation -- and this is normally very bullish and could signal a major move up if it breaks out on the upside. I track the cash cost (London AM fix) going back many years and the top of this triangle is a very strong resistance line at just above $304. The last three points on this are: - Feb 08, 02: 304.30 - Apr 02, 02: 304.00 - Apr 18, 02: 304.20 Today it was fixed at $303.70. In other words, a London AM fix only $0.70 above today's would be a new high since February 2000 -- breaking a 26 month resistance line. It will be interesting to see what happens in New York after this London breakout occurs! Will they crush it -- or will there be lots of stops in place to go with the flow? Or will it just wimp out? It's certainly more fun than the previous 5 years! :^) Best regards, Howy