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

To: SliderOnTheBlack who wrote (26045)	1/19/2003 3:39:45 PM
From: habitrail	Respond to of 36161

Nice posts, Slider. Does that mean you are already poking around for a new sector already, or just planning on $ hibernation?

To: SliderOnTheBlack who wrote (26045)	1/19/2003 3:56:22 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 36161

One more TA point to consider: The recent gold run is best classified as a rounded bottom according again to Bulkowski (vs a cup and handle since their was no 30% appreciation prior the cup). In this formation the price objective is typically hit before any significant pullback. In this scenario the objective would be 330-250=80 add to the breakout point for 410 POG. A rounded bottom can still have a handle according to Bulkowski so there may be some confusion over the present POG trend. Back when oil was $12 and it moved to $18 again we had a similiar sentiment change. Calls for $21-25 oil were no longer laughed at and considering were we had come from it seemed that quite a few were downright bullish. Of course oil went on to almost $40 before any significant pullback. I would liken the present price of gold to be about $18-20 oil from a sentiment standpoint. A move back to $330 to $340 POG would not surprise me at all here, but I don't see another move back to $300 to $310. The first time the HUI moved to 154 from 60 (Dec 2001) we had a 50% correction back to 92. I guess I find it unlikely that we'll give back the entire recent breakout and then some before going onto new multi-year highs long term. As always Slider, I appreciate the contrarian nature that you bring to this thread. That is by far your best attribute (in addition to your often correct calls <G>). I am somewhat scared to be holding even a 33% position since gold stocks have not followed POG to new highs, but at least in the short term I remain cautiously optimistic until my TA points are violated.

To: SliderOnTheBlack who wrote (26045)	1/19/2003 4:24:41 PM
From: loantech	Read Replies (1) \| Respond to of 36161

<Also, please take a deep breath.... I guarantee you, that no one on SI can move the Gold Stocks 1/10th of 1% with ANYTHING - ANYONE posts here.... it's a myth> Slider we may not be able to move gold stocks plural but SI posters can move gold stocks singular and I have seen it happen. Tom

To: SliderOnTheBlack who wrote (26045)	1/19/2003 9:09:47 PM
From: Fishfinder	Respond to of 36161

Again it all depends on each company you are invested in and where they might be going. I'm one of those who has been 90% invested in the gold sector for years now. Each project has its own life,eg; MFL has a great project going on and in my opinion is ripe for a take over. Gold could drop to $330.00 and the next day a mid tier will come along and tell everyone that they want to take MFL over at $12-15.00 bucks a share. This is a very real senario in my opinion, therefore I still hold a large position with them. BHK , well it is coming of age as soon as they get their hedged position out of the way. I could be willing to trade it if I felt certain gold was going to fall back , but I'm not. CBD, I bought and held for a while but took profits at $2.90. I don't like all the water everywhere. I bought it simply on momentum. SJD, I own and will continue to own as I have for 5years now. I would have been better to have traded that one but didn't. In at .60 and bought a bunch at .24 and holding. I could trade this one but this would be a risk as they have drill results coming in all the time now and they are all good ones; so far at least. I'm betting that gold will average around the $350.00 mark this year and gold stocks will start to reflect this price better the longer this new price holds. Also betting that MFL will see a buy out this year and possibly soon. regards scott