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

To: loantech who wrote (27777)	2/8/2004 6:58:54 PM
From: E. Charters	Respond to of 39344

There is a possibility of some Mehicanal desert dirt. EC<:-}

To: loantech who wrote (27777)	2/8/2004 9:48:20 PM
From: Little Joe	Respond to of 39344

CHART UPDATE I have been looking over my charts this weekend and I think they are starting to give us some valuable information. Silver futures.tradingcharts.com The double top that I referred to in last week’s notes completed and silver went under 6.00 but promptly rebounded to the 640 area. The chart remains equivocal. This could be an exceptionally strong pullback or a signal failure or maybe an end around where the downside breakout is false and the market reverses upward. At this point I think either is a possibility. I would certainly buy new highs on silver and likewise I would buy new lows. GOLD I can’t display the chart I am using here. But gold bounced off lower Bollinger bands and touched but backed off 50 MA.. Chart still looks lower to me HUI The HUI has put in a double top which projects to 182 bigcharts.marketwatch.com Same as silver. A few other stocks with similar formations and targets are as follows: Head and shoulders: GOLD STOCKS Newmont –Hope for bulls. Note on this chart: 1. RSI at top of chart is up sharply and over 50. 2. MACD has done a bullish crossover. Indicator at bottom. 3. Also double top projected low at 40, which was almost but not quite reached. 4. Strong support at 40. 5. Island gap reversal formation. stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G Hecla This stock was one of the stronger during the break. Note that RSI (top) never oversold and now well over 50% mark. Also another Island Gap reversal formation.’ stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G IAMGOLD Again one of the stronger stocks during the break. Notice strong RSI and MACD relative to most gold stocks. Also, has managed to close over 50 day average again and Island Gap reversal pattern. I think NEM, HL and this one will tell us a lot about whether the bottom is in. FCX- stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G Similar to others improving RSI, MACD, Island Gap reversal (arguably) The samples above are representative of the action of many gold stocks this week. They are bullish, but we should not forget that few of the stocks have reached downside targets and therefore this could just be a countertrend move. I remain cautiously bearish, but would am watching as my mind could change any day, If I saw good technical evidence. Live long and prosper. Little joe