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.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (8616)	3/12/2003 6:00:24 AM
From: Ceedee	Read Replies (1) \| Respond to of 39344

Chartwise,got a feelin we are about to see a good rally in gold stocks:here is a commentary from MarketBlackBox:Gold Chart 'Primed' by Rick Ackerman We’re not big fans of head-and-shoulders formations, mainly because they are far too popular with armchair technicians and dabblers. But we must admit to being impressed by the textbook clarity and quietly accreting power of a reverse (i.e., bullish) H&S pattern in the London Financial Times gold index. It has been building for nearly five years, with a left shoulder centered at a low made in the summer of 1998, a head created by an even lower low in November 2000, and a right shoulder formed around midyear of 2002. The chart was sent to us by a Florida subscriber, and although we cannot reproduce it herein, it depicts a commodity whose price is ready to explode. There is a kicker, too: The right shoulder describes an Elliott Wave correction pattern called a "five wave flat top triangle." Without going into detail, we will note that this pattern is nearing the end of a fifth-wave selloff. The clear implication is that the price of gold is getting ready to explode. If so, those who have stuck by bullion and mining stocks through these last, difficult six weeks can take heart: Relief is near. 125%

To: gold$10k who wrote (8616)	3/16/2003 1:54:18 PM
From: Kaena™	Read Replies (1) \| Respond to of 39344

As expressed last Wednesday, I expected a bottom for the HUI last Wednesday or Thursday based on the many gold stocks testing their lows on lower volume and accordingly was buying a number of them. I agree with several posters here who feel that gold may retest $325 but that there would be limited downside for the gold stocks as most have already factored in that possibility. The HUI may well retest its recent low over the next week or two. If that happens I will view it as an opportunity to be fully invested. The decline in the gold stocks over the past several months appear to have factored a coming multi-month dollar rally. In Spring of 2001 gold stocks rallied along with the dollar and the stock markets. Perhaps that is what is going to take place after a 1-2 week period of retesting of the lows for both the gold stocks and stock markets. Either way whether we get a probable retest or not, this short term period is a low risk entry point for the gold stocks especially if you limit your risk with stops.