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CHARTWORKS
June 5, 2002
GOLD AND GOLD SHARES
RARE SIMULTANEOUS OVERBOUGHT
(UPDATE)
As advised on May 23, gold and gold shares both registered an "overbought"
condition. There have been only 7 such simultaneous readings since 1970; the last in
1993. Within their bull markets, a correction for both has been expected to start in
early June.
As we have been mentioning over the past month, in a market that has been expected
to rise for a number of years, the key is not so much upside targets but entry points in
time and price on the corrections. This one could last about 6 weeks.
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