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

To: longdong_63 who wrote (13887)6/5/2002 9:45:39 AM
From: rolatzi  Read Replies (1) | Respond to of 36161
 
I see support at 317 as gold has been finding support at the 50 dMA.
A 50% retrace of the last run up gets us down to 308 while a 38% retrace takes us to 313.
Think of this retracement as an opportunity for the hedged companies to cover some of their hedges. I think that the hedging places a higher bottom on the POG and therefore look to 317 as the price to buy.
good luck to you, I have too much GFI.
Ro



To: longdong_63 who wrote (13887)6/5/2002 10:00:26 AM
From: waverider  Read Replies (1) | Respond to of 36161
 
All things considered, other than silver, the gold stocks have not come close to the correction on Friday. As nothing has really changed market wise, this may be our opportunity to nibble a bit more.

wr


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