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Charmin

Daily Digger - Friday April 8, 2005

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It has been some time since I took a look at GSS and I believe I said something like if it can't break out of that wedge it's going to support around 2.50. Somehow horizontal support makes sense in most situations....in the case of GSS it's yearly support... ooooh

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For some reason I think NEM might retest the $40 area. The bounce and weekly near term trend down from the $46 area may be the logical outcome..

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bear market in buck/uptrend in Gold

 

or maybe I should restate it as - bull market in Euro/bull market in Gold

 

from 84.41 to 82 on buck might be a trade.. but I also see 83.50 area

 

http://finance.lycos.com/qc/livecharts/def...mbols=CEC:DX05M

 

have to watch the euro also

http://finance.lycos.com/qc/livecharts/def...mbols=CME:EC05M

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bear market in buck/uptrend in Gold

 

or maybe I should restate it as - bull market in Euro/bull market in Gold

 

from 84.41 to 82 on buck might be a trade.. but I also see 83.50 area

 

http://finance.lycos.com/qc/livecharts/def...mbols=CEC:DX05M

 

have to watch the euro also

http://finance.lycos.com/qc/livecharts/def...mbols=CME:EC05M

 

 

My thinking is if 83.50 doesn't hold the rally is over for buckie.

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You might ask what do I do when day thirteen arrives... probably give up? :lol:

 

As all true gold bugs know - waiting on bottoms is painful. :(

 

I'm sure it will bottom just as soon as the last 6 gold bugs left here give it up :lol: :P

 

 

I have been holding all shares I had and waiting

During the waiting I picked up some goldcoins like my new avatar

In the meantime were are heading for a golden cross between the 65 and 200 ema in euros

post-1584-1113033929_thumb.jpg

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bear market in buck/uptrend in Gold

 

or maybe I should restate it as - bull market in Euro/bull market in Gold

 

from 84.41 to 82 on buck might be a trade.. but I also see 83.50 area

have to watch the euro also

 

 

My interpretation is that Euro is in a bear market into May until the EU consitution vote is cleared . First the French vote is favoring a No and now Danish and Greece are at risk of rising protests as well . This does not bode well for Euro . One only has to look at what the Quebec NO Vote risk did to the Canadian dollar for the time leading up to the vote .

 

Dollar has support above 82 and will make new highs towards 87-90 on the next runup before exhasiting the up trend . This is why I am not eager to get back into Gold just yet . Pisses me off that Gammon Lake (GRS AMEX , GAM :TSX) has been so strong during this weak phase of the Gold cycle , prevent me from buying what I would have had the cycles been pointing up . <_<

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