"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, September 7, 2010

Pediment Gold (PEZ.TO)

I bought the decline into point 4 on the chart with my typical bottom feeder orientation. 

Now, a less than stellar upside manager, I try to follow the message that this weekly chart tells me; namely that it is not nearly over bought, it's in a new uptrend and there is no strong resistance until theoretical point 5 on the chart.