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

To: Little Joe who wrote (14611)	7/23/2003 7:04:26 PM
From: Canuck Dave	Read Replies (2) \| Respond to of 39344

Like the swallows to Capistrano, the bulls are back. I'll know it's time to sell when the silver price monitor hits the most active thread list (actually, does SI still do that?). This was a once-a-year move in silver, that's for sure. I've bee trying to track down the reasons for the big move, but the best I can find is stop-loss short covering and a few trade houses buying aggressively. Tomorrow and Friday, we find out if the move was for real. CD

To: Little Joe who wrote (14611)	7/23/2003 7:43:28 PM
From: gold$10k	Read Replies (2) \| Respond to of 39344

Little Joe, I am unable to find a basis for disagreeing with you. In the spring of 1999 "they" announced a gold auction by the Bank of England to kill a rally right at the breakout point. I don't believe that would be effective today even if attempted, BWDIK. There doesn't seem to be either the same motivation for gold suppression now or the same fear of central bank sales. It was still a bear market in gold in 1999. The only thing missing is a break of XAU above 88 to break the neckline of a 5 year long reverse head and shoulders which would point to a target of XAU 133. bigcharts.marketwatch.com Needless to say, I am not waiting for that confirmation. <g> Besides, they keep changing XAU, but NEM made new 5 year highs today. Regards, vt

To: Little Joe who wrote (14611)	7/24/2003 12:02:39 AM
From: TrueScouse	Respond to of 39344

Joe: <<I am sure today's action is the beginning of the mother of all bulls>> It pisses me off when people don't say what they're really thinking! <vbg> Seriously Joe, I have a lot or respect for your TA skills and today was very unusual. I logged in to check the silver price about an hour before closing. I'd put in a sell order (Dec futures) to close out my position at $4.99, and I got a shock to see it trading at $4.97. And suddenly I got this feeling that this move was different -- and as Jesse Livermore used to say "never lose your position" -- that this time it was going through $5 -- so I cancelled and it sailed through $5.00 a few minutes later. Who knows if our instincts are just BS or a TA indicator (after over 20 years of trading)! Maybe I'll regret my decision and it will close sharply down tomorrow -- but I don't think so, and anyway I've now got a fairly close trailing stop to lock in some profits. My gut tells me to follow this one, rather than to try to take profits at a target like over the last year. Still banking on a summer rally being a fixture of all the PM bull markets in the last 25 years.... Best regards, Howy