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Monthly Digger - June 2007


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I got another batch of Harmony even half a percent lower then friday

 

I am stuck though as to what to buy when I have all my old acquaintances at the level I feel confortable

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SKI system update, posted on 321gold:

 

 

SKI generated a bull market buy signal on May 24, the day of the low (SKI is pretty darn good at that). Prices must continue to rise at this point to avoid generating a sell signal which would indicate a decline to Gold $540. Prices on the USERX (mutual fund used for SKI) but stay above their prices from 92-96 trading days earlier, to avoid generating the sell signal.

 

Essentially: Buy signal on May 24, sell stop set to prices from 92-96 trading days ago (continually moving as those prices move).

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Hello All... anyone have any thoughts on CEF lately ? I want to increase my bullion exposure but would like leverage and I can't get that through the ETFs or direct local purchases.

 

The premium on CEF is now 3.6%

 

Thanks

 

Hi CG ..:)

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Hi Hadj... :)

 

Support is at 9.00 on CEF, Resistance at 10.00(just under). Anywhere from here to 9.12 on CEF should be decent enough. I hold this in the long-term accounts, and prefer to buy it at a discount to NAV but I'm seeing solid support come in right under the 9.00 level.

 

If you're expecting the leverage to be as good in the metals this go around, I'm expecting quite the opposite. Although, with the silver allocation as high as it is in CEF, you'd probably do better than just holding shares in a "gold-only" ETF.

 

This go-around, I'm under the impression your amount of leverage depends squarely on which area of this sector you're invested in.

 

You know my detailed choices; a few of those along with the safety of CEF as a core holding is a rather smart way to play what I see coming around the bend.

 

Good luck buddy...

 

CG

 

This gives me an opportunity to post another example of a Bocks Formation...

 

CEF - Daily Chart

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XAU:

 

I've been away from the markets for the last 3 trading days.

 

My wife and I took some time off to visit my son and daughter-in-law in B.C. and attend their "B.C. wedding reception".

 

XAU looks bullish. I'm looking for an impulse to form on the intra-day charts as a clear ABC is apparent on the daily.

 

It looks like we're in a prolonged wave 4. As it is languishing in 3 wave moves, it probably is a triangle. We likely still need waves "d" and "e" to complete. It still hasn't reached a full 38.2% correction.

 

We should see something below 138.16 intra-day. A decline below 137 would exceed the 61.8% retracement and be bearish.

 

Of course, anything above 142.61 would indicate an impulse up.

 

The entry trade would come later---in the ensuing abc correction.

post-1352-1181100747_thumb.jpg

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HUI/Gold ratio:

 

This is a very detailed chart posted by Salscandle at Trending 123.

 

He is a very astute technician--and he produces exceedingly comprhensive but very understandable charts.

 

The opinion expressed is, of course, a work-in progress that summarizes an ongoing period of months of analysis. The chart and the annotations probably took hours to produce.

 

It's certainly worth several minutes of study.

post-1352-1181101887_thumb.jpg

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Rangold:

 

The price oscillators in most of the miners have hit buy signals over the last several days.

 

This stock's volume indicator is the only HUI component whose volume oscillator shows a breakout.

 

It should lead.

post-1352-1181104866_thumb.jpg

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