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June 3, 2009 / Jeb

Gold Stock Update 6-3-09

A few days ago (please see my archived post from 5/31/09) we mentioned be careful of chasing the gold sector as it is quite overbought.  We also mentioned to wait for a retracement to the 20 or 50 day moving average.  This is what is happening a retracement to shake out weak holders.  Our students and long term followers have been following Taseko for a few months.  Today thestreet.com had a video on it.  So the mainstream is now picking it up which concerns me as that means we will probably have a pullback.

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=13794899&src=finance&ch=633473

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