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Charmin

Daily Digger - Thursday April 7, '05

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A few PM stocks show up on bullish criteria for Rate of change and Stochastics

AU, GG, GLG, and NEM - but use protection on oscillators

 

The Chart...

GLG - $15 area trading range lows with a small spring and diverging MACD....

 

Tech Talk continues to favour the Canadian gold sector. The Canadian gold sector was the second strongest sector on the TSX yesterday. iUnits on the TSX Gold Index rose 1.1% on higher than average volume A large number of TSX gold stocks either recorded positive MACD crossovers from an Dover Sole level yesterday or are very close to completing a positive cross over (e.g. Barrick Gold, Cambior, Glamis Gold, Golden Star, IamGold, Kinross, Meridian, Novagold, PanAmerican Silver, Placer Dome).

 

http://dvtechtalk.com/April/April7.htm

 

and do you know what price silver was last year at this time?

and now is the seasonal strength period...

http://dvtechtalk.com/April/April8.htm

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What price was silver? $6 or so? Looking for $10-12 sometime this year.

 

This $ strength seems to be sort of dragging on, maybe a little long in the tooth?

 

Most interesting thing I heard was Greenspan's take on Fannie. "Could threaten U.S. financial system" did he really say that or was I hearing things? :o

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silver last year this time $8 and change

 

June contracts:

dollar down this morning - might be a top

gold struggling around 429.5

euro rally may not last

 

Gold resistance around 431/432

silver around 7.20

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I think PAL, SIL and SWC are due (or maybe overdue) for a bounce.

Other miners probably too ... these are just the ones I looked at ...

JMHO, of course.

 

OldMan

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XAU:

 

The worm will turn soon.

 

We gotta get wave 4 complete ( an a-b-c-d-e ) and suffer through wave 5 down.

 

Patience rules. Never draw to an inside straight. Never hit on 16. Never trade inside 4th waves.

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Pretty hard to dig up a gold bug around here.

 

So we got to be getting close to a buy signal, right?

 

This guy has the lower trend line on the weekly down around 82.  :mellow:  :huh:  :(

 

http://www.marketswing.com/L3charts/XAUL.htm

 

 

I don't think that trendline is correctlydrawn. His target may not be that far off but that's a new one on me.

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One up day away from a MACD buy signal...not that it means anything, some of the previous ones failed. I still don't know what to expect from here so I'm just standing pat with what I have. "IF" ABX gets back to 25ish to fill the gap, I'll probly short it...that's my standard hedge, most recent one was closed out already.

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