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 ChartWorks
Bob Hoye
Institutional Advisors
posted December
10, 2003
Gold
The rally has
been likely to be accomplished this week.
- Momentum
(
 ) - overbought on the CCI (8).
.
- Price -
not
at the 422 target, but close enough.
.
- Timing
() - the most likely time for the high
would be this week.
.
- The Correction
- could
be quick (around 2 weeks) or leisurely to mid-January.
Gold Shares
- Senior gold
stocks became measurably overbought on November 28 and have been
anticipating a correction in gold.
.
- The next up-phase
should be stronger than the last one.
.
- Buy the weakness.
.
Bob Hoye
December 9, 2003
Institutional Advisors
E-mail bobhoye@institutionaladvisors.com
Website: www.institutionaladvisors.com
BOB HOYE, INSTITUTIONAL ADVISORS
Institutional
Advisors'
research into the fundamentals of "New Financial Eras"
was completed in 1980 and our advice began with monthly publications
in early 1982.
In the gloom
of rampant inflation, the observation that "No matter
how much the Fed prints, stocks will outperform commodities."
was controversial.
Our models,
based upon the fundamentals of a financial boom and its contraction,
cover the yield curve, credit spreads, metal prices, and the
stock market. These have anticipated most of the significant
trend changes - usually with enough time to determine policy.
As the time for each reversal approaches, its probability is
confirmed by sophisticated technical analysis. The combination
is a conservative "Belt and Suspenders" approach.
Published weekly
under "Pivotal Events,' the long term strategies
provide a tidy package for the CIO, portfolio managers, and high
net worth accounts. On the shorter term, published opportunistically
under "The ChartWorks;" stock, bond, and metal
trading desks have found our tactics useful.
___________
321gold Inc
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