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Charmin

Weekly Digger - June 6-10, '05

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I can see a tad of supply come in and the 196 level on HUI looks like a creek. The ol scout may have to back up and get a running jump of that level... but that also means he's got to scout out the stream father down. No telling how much time he needs for that. It's starting to warm up and get buggy, so maybe he's inclined to sit by the creek and dip his toes in the cool water for a bit and splash some water on his face.

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XAU (Gold Index)

 

As the Dollar started to weaken, after finally stopping at 1.2184 (actual low 1.2184!) versus the euro, bullion finally got off its back, and rallied . This provided more ammo for the gold stocks, which have now rallied a stunning 15% since the low 14 days ago.

 

Upper Fibonacci Cluster Resistance has been reached (89.77), and Friday, the market started to pull back.

 

More correction time is needed, and we look for 85.61 --84.39 as good Fibonacci Cluster Support levels to establish longs.

 

http://www.feargreed.com/

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USEG up .75 to $5.26 on 900K after only 40 minutes of trading..:)

 

That's a volatile booger.

 

Nice to see the likes of NXG and GBN back over a buck, even if it is temporary. Those things were getting ugly. :(

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i am still looking for a pullback. i do think the market has begun its ascent. the action so far is encouraging for the bulls(ie. since the lows) dharma

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charms gives bernies fib retracement points above (85.6 and and 84.4) mine is actually 84.2 and 82.8 should the market do a .618. saville has an acticle on safehaven, where he says the low will come in october. as in the low hasnt been seen yet. perhaps, but i think the lows have been seen and i am playing it that way. dharma

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charms gives bernies fib retracement points above (85.6 and and 84.4) mine is actually 84.2 and 82.8 should the market do a .618. saville has an acticle on safehaven, where he says the low will come in october.  as in the low hasnt been seen yet.  perhaps, but i think the  lows have been seen and i am playing it that way.  dharma

 

Well there is about a 15% chance that Saville could be right. :)

 

The last two Octobers have been closer to a high than a low. The last time Oct. was a low was in 02'.

 

Silver looks like it's about done for awhile. The silver miners are acting like at least a pause but more likely a pullback is forthcoming. I hope it's just a pause and not one of those gut-wrenching $1 pullbacks.

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Silver looks like it's about done for awhile. The silver miners are acting like at least a pause but more likely a pullback is forthcoming. I hope it's just a pause and not one of those gut-wrenching $1 pullbacks.

 

 

O.H.--

 

I'm a little more constructive on Silver and the silver stocks.

 

Silver daily has us testing resistance, but the breakout from the triangle says we should see $8.00.

 

The 60 minute on PAAS seems to indicate that we're still in wave 3 and should rally before seeing a larger pullback in wave 4---with 5 still to go.

 

I see the possibility of resistance near the 52 week highs for PAAS over the next month or two.

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I hope you're right Bearvest. I'd much rather see it go up.

 

It just appears to have lost some momentum and is struggling with $7.60. Seems to me it's running out of time short term. That and the Commercials adding shorts.

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Goldman Sach's downgrades the gold and steel sector.

 

Does that indicate that we are closer to a bottom than a top?

 

Criminals.

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hadjin, i think it was you who posted an article about a south american country nationalizing its oil reserves? think that could happen to metal stocks should a run begin in earnest?! which companies should be avoided? tia dharma

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hadjin, i think it was you who posted an article about a south american country nationalizing its oil reserves? think that could happen to metal stocks should a run begin in earnest?!  which companies should be avoided? tia dharma

 

 

Buy North American only.

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charms gives bernies fib retracement points above (85.6 and and 84.4) mine is actually 84.2 and 82.8 should the market do a .618. saville has an acticle on safehaven, where he says the low will come in october.  as in the low hasnt been seen yet.  perhaps, but i think the  lows have been seen and i am playing it that way.  dharma

 

 

I understand Mcavity and Dines are not pm friendly at this time. Mc has a long standing target of $375 Gold open while Dines thinks the HUI is in a downtrend. I don't get Deliberations or TDL so I can't elaborate. so far the volume on the pullback in fairly encouraging for the bullish side. Looking to reinstate longs 178-180 HUI at this point.

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