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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (2684)	10/30/2003 2:58:08 AM
From: jimsioi	Read Replies (2) \| Respond to of 108683

VT, HUI/gold ratio and energy.. The long term view of the HUI/Gold ratio looks to me like we're in a wave three up....target would be between 61 and 64....not far away, and in terms of what the price for the HUI will be much of course depends on GOLD's actions....We're still pretty well locked under $390 in that regard. stockcharts.com[h,a]wbcaynay[d20010829,20031029][pb8!c40!f][iut!Ul14!Ub14!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G By and large energy stocks are really lagging in the natural resources sector...Supply demand issues don't seem to have stimulated much in the way of sustained buying, other than in the Royalty Trusts where attractive returns are provided to holders at this time at current commodity price levels..They'll eventually be bag holders in this group too as reserve placement and production per unit become concerns as the former is required to the dilution of the later. APA which I use as the technical bellweather for the E&P group got down and hit my downside target yesterday at $68.40 without filling me....DMI is about to cross, STOs have turned up...PPO has flattened, Ultimate and RSI are rising now and above 50. Price is back above the 40 day simple moving average... stockcharts.com[l,a]dacayiay[dc][pb40!c200!i!f][vc60][iUl14!Up14,3,3!Lg!Lc9!Lf!Le12,26,9!Lb14!Lya7,14,28]&pref=G The XNG which has been slightly stronger than the DXE since August is fighting it out with the 195 level...technicals are not quite as positive as APA's.... stockcharts.com[l,a]dacaynay[dc][pb40!c200!i!f][iUl14!Up14,3,3!Le12,26,9!Lb14!Ll14!Lya7,14,28!Lj[$dxe]]&pref=G Bottom line on energy....looks like we're close to a turn and it is the season....but we need some inventory tightening to get things moving.