Steve, Among the indicators that I keep, is a 43 Day Moving Average, on the XAU, NEM and ASA, the 43 Day Moving Average has been declining since December 12, 2003.
As of today's close (unless they tank them in the next hour) the 43 Day Moving Average, that is working off of the close of April 28th, will turn up. While it is (of course) possible for the 43 Day Moving average to turn back down, historically, once a turn is in place, the 43 Day Moving Average continues in it's new direction for several months.
Given the (bullish) rising bottoms pattern, in the XAU, NEM and ASA, recently, it just may be that most Gold stocks, saw their lows, for several months to come, on May 10th
We Will Know In The Fullness Of Time
Jim
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