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Monthly Digger - April 2007


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is anyone else looking for a may high?

then some consolidation

then another end of year run!

yes, all boats in the sector are rising. rno gets taken out!

dharma

573553[/snapback]

 

 

I dunno dharma. If you look at the three year chart of the HUI there has been a major turn on or about May 10th the past three years. I would have been more comfortable with a low today instead of a high. Some folks consider today a breakout over 670 spot Gold. We shall see.

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SIL lost 5.58 per share in 2006 due to hedging.

 

Wouldve been a small gain, except for the 340 million in hedging losses.

 

They have a market cap of 825 million.

So they threw away over 25% of the value of the company by hedging. In ONE YEAR.

 

Wow.

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G.TO

 

These are the charts for Goldcorp on the Canadian side.

 

The daily chart shows a very clear impulse down from the February highs to the March lows.

 

I have said, repeatedly, that impulses travel with a friend. If an impulse appears, you must look back to see if it's the friend or the original traveller.

 

The only exception to this is a flat correction--a 3-3-5 pattern.

 

Looking at the weekly chart, the impulse down looks like it's the original traveller. It appears to be an "a" wave.

 

Thus after the "b" wave plays out---indicated by the blue lines on the daily-- there should be a second impulse down.

 

This should complete the bearish, corrective pattern.

post-1352-1175746598_thumb.jpg

post-1352-1175746614_thumb.jpg

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My quarterly quidance on PAL is going up to 9.50

 

http://www.StockSharePublishing.com/ChartL..._1175750085.png

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I wouldn't want to buy on the day after a 6% rally. It was a real short squeeze.

 

I'd certainly think there'd be some kinda reaction--maybe back to the lower trendline.

 

But MACD and OBV both look like buying pressure has been building.

 

http://www.shortsqueeze.com/index.php?symb...go&submit=Enter

 

Chart:

 

In triangles, look for 5 waves not 3.

post-1352-1175758184_thumb.jpg

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