Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: cool who wrote (23402)	11/25/1998 2:46:00 PM
From: Richard Grenier	Respond to of 116796

"The predicted price increase will equal the difference between the low at the top of the head ($272) and the neckline($295?) or $23 added to current price $295 equals $317 short term. Comments appreciated." I see the same pattern as you and believe that we will soon brake the neckline which is around 303$. IMO most of the gold stock have already discounted this. You can see the same price pattern on some stock to not name any here. Richard

To: cool who wrote (23402)	11/25/1998 4:51:00 PM
From: Little Joe	Read Replies (1) \| Respond to of 116796

Daddycool: I have noticed the H&S forming in gold as well as XAU. Your interpretation of the extent of the move is the standard technical technique. There are a few things to understand according to Magee's Book on Technical Analysis: 1. Since the breakout will be to the upside, in order for it to be valid it must be accompanied by high volume. 2. The neckline must be broken by 3% in order for the breakout to be valid. 3. Each shoulder should be more or less similar. It could be argued that both of the shoulders are not alike, but in my view they are at least as similar as some of the examples used in their book. By the way there are many triangles forming in the gold stocks. These have not resolved yet so we can not glean much information from them. I think that the jury is still out on gold and gold stocks. It is important not to jump the gun and to be patient and wait for the signals to be confirmed. By the way it is normal after a breakout for their to be a pullback to the neckline and I have often used this pullback to establish a position. Live long and prosper, Little joe