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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?


To: John McCarthy who wrote (21185)9/16/2006 10:05:34 AM
From: SwampDogg  Respond to of 78408
 
stockcharts.com

Certainly oversold and due for a bounce but it looks like the $CRB may have another leg down (ie 5 of C/3) after a rally. 285 looks like an place to look for the big low. Timing would maybe in November.
PMs may bottom before then but oil may want $55-$58 and $Copper $2.60-$3.00.
At those prices people will be saying the bull is dead for sure.
Would eventually look for a target on the $CRB of over 500 in the next couple of years.

From the land of goofy...

news.yahoo.com

<<The drop in pump prices is very visible to consumers and seems to have a huge impact," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "Consumers seem to view gasoline prices as a barometer to their overall well being.">>



To: John McCarthy who wrote (21185)9/16/2006 11:51:37 AM
From: tyc:>  Read Replies (2) | Respond to of 78408
 
>>• The commodity futures contango is causing losses now to traders intent on rolling contracts (longs) forward. Try to understand the contango - backwardation implications of futures markets

edit

Could you explain further ?