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: 3bar who wrote (9228)	3/30/2003 4:58:46 PM
From: jimsioi	Respond to of 39344

June Gold - daily chart. futures.tradingcharts.com Downtrend line off the early February high comes in right where the moving average sits at $340. Trend Indicators for GOLD SILVER and the CRB in Jay Gallemore's work are slithering along the bottom of their respective scales. Momentum has been heavily negative. There has been an exit out of commodities and away from things and to cash in the last month. chartingyourfutures.com Is this now all about to change in a glorious rebound in GOLD to new heights in a seasonal replay of the last two years' strength into the mid year?? Frankly, while long a goodly share of miners, I don't think so. Rather I suspect the best we'll see is a labored move back first toward $340, a fall off from there and then maybe, if the dollar declines below 95, we'll see GOLD at $350. On a more optimistic beat, it is my suspicion or perhaps just wishful thinking that in the month ahead miners will out perform the metal with the juniors being the leaders. The Commercials in GOLD still have a heavy hand on the metal. They did not reduce net GOLD short positions in the period just reported as one would reasonably have expected given the metal's price decline especially on Friday of last week. Momentum on the downside on the CRB and metals has been strong, as noted above and viewable on the Gallemore site. Unless this negative momentum swings back to positive unusually quickly as the trend indicators come up for oversold it's unlikely that the metals will get very far to the upside and be able to hold gains.. A trading move to $336-9 June Gold and 133 Hui is my most bullish expectation for the next 5-8 days..