THE PRECIOUS METALS
"YOU AIN'T SEEN NOTHING, YET"
"Ready To Run"
We are looking for the PM sector to make a big run starting right about now- a run that will likely take $Gold up to new highs over the next couple of weeks. Let's take a look at a couple of charts.
In the chart of the HUI Index we can see that the HUI rose off the October 08 bottom in 5 waves before it ran into resistance at the lower roll of the moving average ribbons. After hitting resistance, instead of correcting sharply, the HUI "corrected" upwards and sideways in an "expanding triangle" as seen on the chart. We can confirm the price movement by noting the formation in the TA indicators. The potential is for a sharp move higher by the HUI into June to about the same upward climb as the first 5 waves. Such a move might take the HUI up to around 502 on the Index.
In the chart of GG we see a similar price pattern. GG ran up to the bottom of the moving average ribbon, then has "corrected" up through the top of the MA ribbons- a sign of real strength. We believe the potential is for GG to have a sharp upward move back toward the old highs into June.
Here is a little clearer chart of GG showing the expanding triangle and the strong accumulation of the stock.
In the last chart we can see that $Gold exhibited great strength through what we had anticipated to be the "deflation scare" bottoming well up inside the moving average ribbon into October of 08. We can see Gold has risen in a 5 wave impulsive move with a following "a, b, c" correction. $Gold now sits on support of the MA ribbon ready to lift-off once again to new highs.
With some work and responsibilities out of the way, we expect to be moving to a subscription newsletter or investment site. It looks like I will have a friend as a partner. Anyone interested in receiving information when our site is up, feel free to send a note to the e-mail contact, below. Anybody who contacted us last year will have an e-mail notification sent to them.
Goldrunner44@aol.com
For the moment…………..Goldrunner.
Again, I'd like to thank all of the posters at the Gold-Eagle Forum for their daily input. Special thanks go to Dr. Vronsky and Westerman for creating the Gold-Eagle site and for editing my work. A very special "Congratulations" go out to Dr. Vronsky and Westerman after Gold-Eagle saw its hit counter ring up to 327 million this last week.
Here is the link to a site I use to research the warrants of Precious Metals stocks. I will be discussing some aspects of the leveraged use of warrants later in this editorial series.
http://preciousmetalswarrants.com
Another very good site that is dedicated to investments in Silver belongs to David Morgan, and his site can be found here……………. www.silver-investor.com
GOLDRUNNER
April 29th, 2009
E-mail contact:
Goldrunner44@aol.com
Please understand that the above is just the opinion of a small fish in a large sea. None of the above is intended as investment advice, but merely an opinion of the potential of what might be. Simply put:
The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Comments within the text should not be construed as specific recommendations to buy or sell securities. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.
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