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

To: russwinter who wrote (18722)	8/29/2003 5:43:47 PM
From: austrieconomist	Read Replies (1) \| Respond to of 39344

Greg Weldon technical viewpoint on gold. Very positive and easy to understand. My kind of analysis: Confirmed upside violation of downtrend line in place since 1987 Massive inverted head-and-shoulders bottoming pattern Mega-long-term 36-month Moving Average trending higher Moving average at highest level since 1999 "Can anyone say gold at $416? How about $502?" Three other important things to watch in the gold price, according to Greg. First, if gold closes today above the weekly close of $369.90, it would represent a new bull move WEEKLY closing high. [AE note, closed at $375] Second, If gold closes August above the monthly close of $368.30 (set in Jan. 03) it would represent a new bull move MONTHLY closing high. [AE note, another notch to the move] And finally, if gold violates the bull move intra-day, intra-week, intra-month high of $384, it would represent a new bull move MULTI-YEAR high.[AE note, not quite yet] Notice a pattern here?

To: russwinter who wrote (18722)	8/29/2003 6:43:05 PM
From: Little Joe	Respond to of 39344

Russ: I am not sure it is useful to refute every point another person makes. Sometimes the lens we look at the world through is just different. I remain very confident that the move in gold has just begun. With regard to individual stocks, I agree with your analysis of the risks involved in Canadian Jrs. and I have sold a few and moved into others I thought were more reasonably priced or to options on large caps. My point is that we are a long way from the top in this market based on my technical analysis. You tend to be a fundamentalist, I think. I am not smart enough to understand the fundamentals of the gold market, so I let my charts guide me. It always works and will work this time because if the markets weaken we will see it in the charts and I will turn bearish. I gues it is just a fundamental difference in how we trade. You have made a lot of money and so have I. You are comfortable with your analysis, which I always read and respect. You put me onto some great trades, the most recent of which is MOYDOW and I appreciate that. But I don't grasp the fundamentals very well and have a feel for charts, so like all gamblers I play my strong suit. Live long and prosper. Little joe