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

To: isopatch who wrote (3387)	11/15/2003 2:42:08 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 108919

Black Box Forecasts: "Six hours ahead of its time" Rick Ackerman Thu, Nov 13, 2003 $415 Gold Soon? 321gold.com It's Not Rocket Science Of course, our gold positions have taught us many times that one does not need a sophisticated strategy to profit in the mining stocks these days. We've simply added to our gold positions on weakness and have taken partial profits on strength. A no-brainer, really. Trading in and out of our long positions in this manner, I did screw up once - in DROOY, when I missed nailing an important top by a few cents and we wound up riding the stock all the way down to its 12-month lows - about 20 cents beneath where we'd originally purchased the stock. But there have been no other such errors, and we've more than made up for it with good timing in the other gold stocks. Timing was in no way crucial to the paper profits we made yesterday, when the gold sector turned feisty. Patience was the key - buttressed by our strong confidence that gold prices will only continue to rise for years to come. For now, the POG looks to be headed toward the short-term top at $403 that I'd projected a while back for the Comex December contract. But $403 is just a weigh station - a minor stop on the way to heights that few can imagine right now. There is also the possibility the hidden pivot at $403 will be easily brushed aside. If so, this minor-cycle rally could take the futures up to the next hidden pivot worth noting, $415.30. ... more on trading positions / jim