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

To: isopatch who wrote (25821)	1/17/2003 8:23:10 AM
From: Little Joe	Read Replies (1) \| Respond to of 36161

Yes, you are right. Also, have you noticed how like the stock market bull the gold market is now able to stay overbought. One of the characteristics of the bull is the market continues to go up despite high optimism, despite indicators which are overbought. Gold seems to be entering that phase now. I think it likely that the correction we are all looking for may be later and not as bad as some are expecting. An example of what I am talking about see: stockcharts.com Notice that HUI has been penetrating the upper Bollinger Bands on the recent rally with impunity. Also as soon as it touched the bottom band recently it reversed off of it. Notice how %R, the red graph at the bottom actually went to oversold and is now rebounding. This is a technical view that suggests that gold can go higher before a major correction. On the other hand I have been taking profits on most mining stocks. However, my current plan, subject to revision at any time, is to put the profits into Claude's favorites at the opportune time. Little joe Little joe