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

To: Richnorth who wrote (14689)7/20/1998 8:50:00 AM
From: Giraffe  Read Replies (1) | Respond to of 116764
 
>>according to Jim Dines (Dines Letter), the XAU stochastics
had come down to "OVERSOLD" levels which means that gold stocks should rally soon from here<<

Not necessarily, in a downtrending market the stochastic can stay oversold or rise slightly out of the oversold and plunge back down.

For example in mid 96 the XAU slow stochastic was oversold but the XAU kept falling for another year and a half.

Having said that ... if we have reached a bottom in the POG the stochastic should give reliable buy signals. I guess I'm using a slower cycle cause I have the XAU still slightly above oversold.

Of course, the same way a bear market stochastic can fail to reach overbought levels, in a bull market the slow stochastic can fail to reach oversold.



To: Richnorth who wrote (14689)7/20/1998 3:59:00 PM
From: long-gone  Read Replies (3) | Respond to of 116764
 
All goldbugs,
Shhh, do you hear that? Was that the sound of a few dozen brokers telling their best customers quietly "Now don't tell anyone,but if I were you I'd nibble a little at the XAU".
I'm looking for the rally when they tell their brothers in law.
rh


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