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Gold/Mining/Energy : Alta Gold -- Ignore unavailable to you. Want to Upgrade?

To: Bucky Katt who wrote (471)	2/9/1998 5:00:00 PM
From: Francois H. Gaston	Read Replies (1) \| Respond to of 749

Bullish day for ALTA. We opened with a small gap (previous close: 1 5/8 and opening today at 1 11/16) with a close at the high (1 23/32)... excellent.... which gives us a very bullish white japanese candle. Volume was not great but tomorrow we will see whether this continues. The last minutes manipulation was attempted today but failed (that is my reading from ALTA's changes last 30 minutes). It succeeded previous 2 trading days, which suggests to me that smart player(s) is(are) in the background (aren't they always?!) Expect other attempts to drop price to induce some to sell by triggering stops and/or margin calls... and these manipulators will get your shares. Not difficult to manipulate such a small stock: you just place a market sell order of 2000 shares 10 times over 5 minutes and you will see what will happen. Especially effective when the market is turning down on the particular equity in question. ALTA is also hitting the upper 20 days Bollinger Band again and, IMHO could gap at the opening tomorrow and close just below 2. Just a wild (maybe wishfull thinking) guess. Manipulation is in the background and fluctuations will happen (at times possibly 50% of retraction from a rally). Suggest to sit tight and long on ALTA (that is my position anyway). Notice that this time, retraction was trivial and we had, rather, a digestive pause: there are some solid holders of the stock, IMHO and the close today suggests that fewer want to sell. I one would sell, you can see that it would have been very difficult to get back in ALTA at a lower price since the second low of double bottom. That is how I see it. Indians are exchanging silver for gold (see Gold Price Monitor on SI). Poor nations cannot buy stocks but buy physical gold. India hoarded 1/3 (!) of the world's production last year. We do NOT need inflation to get that metal going, IMHO). Up to us to do the same and gold will explode. Make your own calculations. Surprising how little gold there is (they say that there is a lot in the banks!... will be squeezed if everybody wants to get their few ounces). Above ground 135,000 tons has been extracted since humans have digged out for it. (stored in jewelery, coins, central banks and possibly Soros and Buffett ). Yearly production 2,300 tons. One troy ounce = 31.104 gm. Inhabitants on this planet: almost 6 billion.... Well folks... keep digging... we will be starving for gold. If we blame Buffett for the silver squeeze, are we going to blame the poor Indians. I hope not. Gold is their sign of wealth... not a 4 wheeler or a mercedes like here, in the USA! Gaston. Last note: if I had some more money, I would buy at the opening tomorrow (because of above TA), a small amount, because a japanese candle like we had can be followed by another one, with gap at the open and close above it. So one might not be able to get in cheap tomorrow. Then again: expect manipulation of ALTA and the POG... and this prediction could be all wet!... The DOW is completely undecided and as far as I am concerned, exausted.... for now. Too many negative floating around. I can't see myself buying these expensive stocks.