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

To: crustyoldprospector who wrote (12727)	6/22/2003 3:49:49 PM
From: Kaena™	Respond to of 39344

<During the last 2 days, volumes on many of the juniors I follow have been well above average, and generally the prices have been up on those volumes. Also, action is moving around the plate; those issues that were laggards 2 days ago were gainers today. That is highly bullish IMO.> Very good points Crusty. And those are two reasons why I am still giving the benefit of doubt to the gold stocks that they can continue to rally a bit further from here. The dollar could possibly hit .95 on a .318 retracement from its low and then continue on down to .90 support before commencing a multi-month rally. The interest rate spread on US Treasuries is widening especially if we get the .25-.5 rate reduction this week and a continuation up on the T-Bond rate. Many of the gold stocks are still trending up. BGO and VGZ had nice breakouts. I expect DROOY to do the same thing as well if the dollar heads back down to .90. I'll get out of my trading position in gold stocks if the dollar breaks out to the upside and wait to reenter in the fall, possibly mid-August to September. I think this coming week will be very significant in that it will tell us a lot about the direction of the dollar and gold from here.