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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (5231)	5/24/2002 4:21:57 PM
From: Little Joe	Read Replies (1) \| Respond to of 8010

I agree that short term silver is a little bit better off, but if gold holds 320 and clears it, there ain't much overhead. Little joe

To: Claude Cormier who wrote (5231)	5/24/2002 5:22:08 PM
From: TrueScouse	Read Replies (1) \| Respond to of 8010

Claude: <<Silver broke above its short term resistance at $4.75-$4.85 which gold still has to go through $325.>> I agree. I'm pleased to see that someone else thinks $325 is a barrier for gold. I've been lightening up my pf all week as we approach that level -- but if it goes straight through and gaps up to $340, I won't complain <vbg> The reason I think $325 should be strong resistance is from the long-term (monthly) cash chart. It's not just the top from mid-99, but it was also the previous strong support in early-93 -- which started the '93 to '96 bull move. I'd be surprised if we don't get a correction down to about $310 -- which will still be above the trendline for the past 6 months. If that happens, I'll be loading up again. Otherwise I'm staying 25% cash. Best regards, Howy