CHARTWORKS - OCT 16, 2006
Gold Update

Bob Hoye
Institutional Advisors
Posted Oct 18, 2006

• Technically, rising through 588 was needed to signal the next intermediate rally. This was barely accomplished on Friday and was exceeded this morning. [Monday].
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• The next target is the 607 - 610 level.
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• Breaking through that will take some work, hopefully with some changes in the credit markets that would support a more sustained advance.
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• In the meantime, John Embry, who manages the Sprott Gold & Precious Metals Fund, has provided us with five exploration stocks.
  
  
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• Our overview - "Gold Exploration" - was published on September 19, 2006 and outlined the risks and rewards in this sector.
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• The previous such review was published on November 19, 2005 and included a list of six picks by John. The results were outstanding.

These illiquid stocks should not be construed as an Institutional Advisors buy recommendation.

-Bob Hoye
Institutional Advisors
email: bobhoye@institutionaladvisors.com
website: www.institutionaladvisors.com

CHARTWORKS - OCT 16, 2006

Hoye Archives

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