Lay In Your Store of Gold
Thursday, June 21, 2007 - FreeMarketNews.com
Even for those who bought gold and mining stocks in 2001, it can be tough to hold on during periods of weakness and consolidation such as those at present.Olaf Sztaba, in a post on 321gold.com writes:"A delayed breakout from a lengthy consolidation pattern doesn't lessen the Gold sector's significant upside potential. From a technical point of view, the extension of an already sizable base should result in a longer, more profitable move to the upside once the breakout occurs."Therefore, use the current pullback to accumulate the strongest stocks in the sector. Focus on stocks that: (1) have already had breakouts from their multi-month consolidation patterns; and (2) have completed or are near completing their pullbacks to their 200-day moving averages.Like the proverbial ant who lays in a store of food when the weather appears non-threatening, Paul van Eeden writes:"Successful investing requires patience. Manage your affairs so that time is on your side -- you will sleep better at night and have more fun during the day." Staff Reports - Free-Market News Network
Even for those who bought gold and mining stocks in 2001, it can be tough to hold on during periods of weakness and consolidation such as those at present.Olaf Sztaba, in a post on 321gold.com writes:"A delayed breakout from a lengthy consolidation pattern doesn't lessen the Gold sector's significant upside potential. From a technical point of view, the extension of an already sizable base should result in a longer, more profitable move to the upside once the breakout occurs."Therefore, use the current pullback to accumulate the strongest stocks in the sector. Focus on stocks that: (1) have already had breakouts from their multi-month consolidation patterns; and (2) have completed or are near completing their pullbacks to their 200-day moving averages.Like the proverbial ant who lays in a store of food when the weather appears non-threatening, Paul van Eeden writes:"Successful investing requires patience. Manage your affairs so that time is on your side -- you will sleep better at night and have more fun during the day." Staff Reports - Free-Market News Network
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