Wednesday, June 15, 2005

Technical Breakout in Gold Stocks

Gold Stocks and a particular one I like, Placer Dome (PDG) have started to enjoy a bit of a technical breakout from their decline. The recent (somewhat of a paradox) strength of the U.S. dollar had contributed to the decline in gold. That seems to have taken a turn. I like PDG alot in this range. Short-term target of $17.50 by early-July and perhaps back up to the 52-week highs after that if the rally is prolonged. I'll stick with this until the tech's change.

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