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 : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (338)	10/21/2003 10:29:03 AM
From: Eva	Read Replies (3) \| Respond to of 29622

UHHHHHHHHH Gold has broke 380 ??? I wish or do you mean the futures?

To: Andrew who wrote (338)	10/21/2003 10:45:19 AM
From: TheSlowLane	Read Replies (2) \| Respond to of 29622

Andrew - The Aden sisters posted their current analysis on 321gold yesterday. Here's a snippet: "A new D decline is now in process and it'll be important to watch it. Gold is under pressure in the D decline by staying below $380, but bull market declines also tell us a lot about the overall health of the market. D declines tend to be the steepest decline in the cycle, but in a bull market, the low is usually higher than the prior B low, which was the July low at $342. Interestingly, this is the same level as the 65-week moving average, which makes $342 a strong major support level. But if gold stays above $362 during this weakness, it'll remain very firm, which would be a strong sign overall. As for timing, D declines tend to last 9-12 weeks. This means we could see downward pressure on gold until Thanksgiving to mid-December. But here's a possible twist... If the dollar clearly breaks down to new bear market lows, we could see a mild gold decline. If gold breaks up to new high, however, it could extend the C rise. In that case, the decline since October 3 would've been an aberration. The dollar is currently the wild card and we'll be watching this closely for the next best buying time."