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

To: Gary who wrote (10222)	4/20/1998 1:42:00 AM
From: Abner Hosmer	Read Replies (2) \| Respond to of 116762

This guy trades gold and the XAU on based on 10, 20, and 40 day cycles, and a goldstock portfolio on 40 and 80 day cycles. He takes the current chart and moves it ahead half a cycle in time for each period. When the current price action moves through one of the lines, the crossing is supposed to represent the halfway point of the expected move from the prior high or low. He got a sell but it was reversed by the price action going above the immediate prior high, beginning a trade he calls a "high above a prior high". (it's converse is a "low below a prior low') He's done regression on 1100 of these trades and found that 95% of them last 4-7 calender days. Since this price action goes against it's own cycle, it has to be especially strong, or it won't last. A sure sign that it won't is for the price action to go below the low of a prior day. In a reversed trade such as this, he moves the stops up each day to just below the low of the prior day. My issue is dated April 6, and as of that date he had met the 40 day cycle price target and on the gold stocks was looking for the 10 and 20 day targets. He points out that on most of the stock charts, there are significant gaps to close. He uses ABX as one example. He's also above 80 on the slow stochastics for most stocks, into the sell area. Says he wouldn't be surprised to see 16 1/2 on ABX again. As of April 6, he had a sell on gold and the XAU and said that a sell on the goldstock and fund portfolios was "approaching".I gather he's somewhat bullish in the longer term, although how much so he does not make explicit in this current issue. He's got a hotline#: 1-900-776-3487, daily updates on gold at 11:00, 1:00, and 6:00 eastern, ABX, HM,NGC, and PDG at noon and 7:00. Cost is 2.25/minute, avg call 2 minutes. I think he'll provide 4 weeks for $5.00 as an introduction, 1-808-826-6550. He also does the Dear DDow letter.