Gold Charts R Us
Pluck a few plums now
& then
Harry Schultz snippet
Archives
November 15, 2004
 The
following snippet is an excerpt from Harry Schultz' current GCRU,
dated Nov 10, 2004. Gold Charts R Us - sent weekly by
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Welcome to GCRU #136 on Nov 10, 2004.
We're a week later & $15 higher, +/-. No complaint!
Gold rose to equal & then moderately exceeded its
April peak to a 16 year high! The move is supported by good volume
& a Spinner upturn, although Monday had a 1DR (1-day reversal).
1-DR also in the Schultz Gold Stk Index, but Spinner positive.
HUI made a triple top but strong Spinner. XAU made a new high.
We're certainly making good headway, (isn't it refreshing
to sidestep the gold-$500 tomorrow commentors?).
Some charts are making consolidation/continuation formations.
Newmont, Novagold & Teck are maintaining steadfast uptrends.
Wheaton River had intraday breakout & is looking good after
last week's dip, a buychart. Silver is holding/progressing &
copper making strong recovery.
The US$ had a 1-DR. Extreme volume in euro Monday & close
on low hints of shorterm consolidation, but will likely hold
on/above support of Oct S/Triangle (ie, 1,2750 or higher). If
breaks 1,2700 on closing basis we could see drop toward 1,240
to 1,200. The pound is at major overhead resistance. Swiss franc
leading euro as it's seen as a safehaven, along with gold. Canadian-$
goes up almost every day, every week, every month. Those of U
who don't have C$ trading accounts are losing out.
Gold stocks are still not roaring
as a GROUP. Some are on a roll. Some rolled over. But a majority
(of quality stks) are in an updraft which looks to continue,
with now&then consolidations, but no major weakness on horizon.
**Note: there are junk-golds just as there are junk-bonds.
Then there are the standstill mediocre-golds, that tie
up your money but don't make U any.
With gold bullion making a new high last Friday, it's clearly
appropriate to take a hard look at your portfolio, now.
Did your stks also make new
highs or nearly so? If they are nearer their years lows than
highs, it's obvious U should clean house. I practice what
I preach. I'm dropping Golden Star Resources from our back pages,
which is nearer lows than highs. I'm moving IMG from front to
back pages, for underperforming, though not yet broken nearby
supports & may be OK. Am
adding Cameco Corp, whose chart is strong & also (in addition
to gold) has uranium which is a hot commodity now. Also am adding,
in the back pages: Eagle Plains Res. Ltd (Vancouver) which is
highly speculative but a possible big winner, good chart; use
stops.
Latest Bullish Consensus
has gold up 2% to 77%, viewed as neutral/bullish short &
medium term. And further into overbought zone.
Be cool, objective, unemotional, smart, non-greedy. Pluck a few
plums now & then. Profits are piling up And buy some breakouts of newly formed
patterns.
Treat each share differently. They are!
Bye. Uncle
The following
indexes, mkts & gold stocks are reviewed this week in the
full edition of GCRU:
Schultz Gold Index
Schultz Gold Share A/D
US$ Index
NY gold
Agnico
Anglo American
Arch Coal
Bema
Cameco
Compania De Minas
Crystallex
Eagle Plains
Glamis
Golden Star |
Headwaters Inc
Iamgold
Inmet Mining Corp
Meridian
Newcrest Mining
Newmont
Novagold
Placer Dome
Silver Standard
Tan Range
Teck Cominco
TREND INVESTORS
Wheaton River |
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of GCRU $45 -- yes, sign
me up!
2-week trial
of GCRU $45 -- yes, sign
me up!
###
Who is Harry Schultz?
Chevalier
Harry D. Schultz, KHC, KM, KCPR, KCSA, KCSS, is the highest paid investment consultant
in the world at US$2,400/hour-US$3,400/hour on weekends (International
Edition Guinness Book of Records 1981-2002).
To keep in
touch with developments around the globe, Harry draws from correspondents
in many countries, plus mountains of international newspapers,
magazines, and other data. At the top command posts of Harry's
elite team are Chief Market Analyst, Paul Griffiths, and Research
Editor/geopolitical analyst Gordon Frisch. Loyal HSL and GCRU
subscribers in 90 nations are much more than simply names and
addresses; Harry and his team consider them part of their cherished
global family.
Harry is regularly
quoted in books, articles, and interviews and by other newsletters
(the "alternative press"). Arthur Hailey, a longtime
personal friend and HSL subscriber, based his character Lewis
Dorsey in the bestseller The Moneychangers, directly on Harry
Schultz.
Harry has lived
for extended periods in 18 nations, and shorter periods in many
others. Knighted five times, Harry is a man for all seasons and
a true citizen of the world.
Contact: E-mail:
HSLmentor@racsa.co.cr
Fax: Costa Rica (506) 272-6261
Fax: Switzerland (41) 21 652 0525
Mail: POBox 622, CH-1001-Lausanne, Switzerland
2-week
trial of GCRU $45 -- yes, sign
me up!
321gold Inc
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