Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Sharp_End_Of_Drill who wrote (16642)	7/29/2002 10:28:02 PM
From: stockman_scott	Respond to of 36161

ord oracle on Gold... marketweb.com <<...The monthly charts imply Gold is in a powerful "wave 3" up in Elliott Wave terms. Short term the XAU surprised us by going lower then expected. The continuation contract on Gold on the monthly charts is still staying close to the 1999 and 2000 highs near the 330 level. This condition implies that gold will break through this resistance the next time up. The longer-term studies still suggest the gold is heading to 500 and we remain bullish. Volume was huge on most gold stocks on the rally from the November 2001 low to the high in June. Volume showed force to that move and imply that move is not over yet. Most gold stocks pulled back near or to their 200 day moving average of which this moving average is still moving up. With the 200 DMA moving up, this implies the gold stocks are still in an up trend. We think that we are ending Wave (2) of a massive Wave 3 up that started at the November 2001 low. The 200 DMA should provide good support. HL has its 200 DMA near 2.30. We are long from 1.04. BGO has 200 DMA near .75. We are long at 1.03. ECO is below its 200 DMA, which is at .79. We are long at .92. ASA has its 200 DMA at 26.25 and selling for 26.90. Drooy has its 200-day at 2.80 and closed today at 2.50. We are long Drooy from 1.06. We remain bullish on gold stocks...>> __________________________________ Btw, Berkshire Hathaway has NEVER been cheap but you can't beat the management team and their LONG TERM investing track record <G>...A few of my relatives have had some Berkshire shares for a long time. I prefer position trading and more volatile stocks though.