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

To: GeoDude who wrote (25281)	12/9/2003 12:40:18 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 39344

Not worried either. Most PM charts I look at are digesting a hockey stick rise. For a week charting bullish flags. Either I am wrong and this is the start of a through, or this is the start of the next leg up. Problem is that the move need another week to be confirmed, up or down. I am bad at predicting the future, am more confident to predict the past. <vbg>

To: GeoDude who wrote (25281)	12/9/2003 2:12:30 PM
From: TrueScouse	Read Replies (1) \| Respond to of 39344

lia: <<I am wondering if this is related to people (or funds) locking in their profits for 2003.>> I think it is. Speaking for myself, I've taken partial profits in a range of stocks over the past week -- not because I think that the bull market is over -- far from it. I also needed some cash for other purposes -- gave myself a Christmas present by paying a chunk off the mortgage -- and meanwhile I've got lots of capital losses from prior years to offset these gains. :^( In terms of my view of the market, I doubt very much if the POG will go straight through the 15-year resistance of $415 to $420 without a major battle. IMO this is a much more significant chart level than $400, and I wouldn't be at all be surprised to see a correction back to the $380 level. OTOH, silver is breaking out to new highs, so it might just lead gold through this level like a hot knife through butter! Who knows? But I'm more comfortable at this point being 60% metals instead of the 110% of the last 3 years! And if the prices just keep going up, then great because this sector is still by far my biggest investment. Regards, Howy