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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (1394)	4/16/2004 9:42:02 PM
From: Wade	Respond to of 48092

Now, Let's take a look at GPS of this week. First, XAU/SPX found support at here. stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G However, MACD shows the bottom is not in yet. We should expect a choppy week ahead. 50-DMA is still under 200-DMA. There will be many good re-entry points next week. Second, POG/SPX is still trying to bottom out. We are actually in a better situation comparing it at March. There is a small chance we are going to re-visit the march low. If POG really hit the bottom and on the rebound from here, we are going to see an inverted head-and-shoulder pattern and could see big rally from early May. If we draw two channel lines parallel to 500-day linear regression on USD, we can see clearly USD reversed its direction just when it hit the upper channel line. This is the good indication that USD is still too weak to break out and is going to head down again. The real evidence of the new down trend is after USD crossing its 50-dma. Built a new position of ENPIX and nibbled NEM at close. Good luck. Wade