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Gold/Mining/Energy : KITCO - Gold discussion
GLD 458.00+1.4%Jan 23 4:00 PM EST
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To: Robert Dirks who wrote ()8/30/1998 7:50:00 AM
From: Nico   of 989
 
From J Stack:
IF a "crash" is a possibility, we are now AT the most critical threshold. In
both 1987 and 1929, the Crashes struck within several days after the DJIA
dropped through a -13% loss. Friday, the DJIA closed at -13.7% off its peak.

IF we are going to see a "crash" scenario, history dictates that the NEXT
300 points down is the point at which it will start. That is when public
"buy-&-hold" turns into "cut-&-run". Now is when psychological risk is
highest.
For that reason, the first few days of next week are critical to the path of
this bear market. Short-term indicators are past due for a technical bounce;
but if the market instead heads lower, it's likely to accelerate.

Watch Monday's open closely as those with a vested interest are likely to
throw any "buy programs" they can at the market to try to support it.

Also good read at:
fennel.assumption.edu
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