FITB (Fifth Third Bancorp) Message Board

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Non-Tech : FITB (Fifth Third Bancorp)

FITB 41.02

-1.4%

10:31 AM EST

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To: Ron Kory who wrote (43)	7/14/1997 5:54:00 PM
From: Ross	of 68

Ron, Because I listen to many "Goldbugs" your comment about the Dow/Gold ratio has been a persistent theme. I guess I am finding that many intra market relationships just do not work.. Does this one? I don't know... The popular press has no bearing on me either. But the fact remains that many central banks continue to sell. Yes ABX is hedged, this is positive, and that is why I'm not short. And agree that this will present them with many acquisition opportunities. Gold has been difficult for many elliot analysts. This chart is from the developers of the software I use: tradingtech.com As you can see this is easily in the 5th wave.. Our software is telling us this; but will it go lower? If so ABX "will" be taken with it hedged or not.. You may not agree with this but I feel many gold funds hold this stock, big time, so as they sell into golds weakness so will ABX follow..? I love this stock and just a little miffed at myself for not covering my short position on last Monday and picking it up for a great trade (long) I believe ABX could go to $26.00/28.00 but to enter now is just a little risky for me.. As you can see I'm mixed. And that is not good, for me, when trading. I do believe that this has great potential but still looking for $16.00 plus or minus a buck.. Sorry Ron for my indecision. I will wait until a more obvious opportunity presents itself.. Ross

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