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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Korey W Carlsen who wrote (9681)3/8/1999 9:41:00 PM
From: JACK R. SMITH JR.  Read Replies (1) of 14226
 
Korey and all,

Just a few notes about the markets and nothing about GPGI.

The S&P 500 has been moving within a narrow trading range for an extended period of time. I view it as near the top of that range today. Looking down here. At any point it might break from that range and as the range extends in time, the prospects increase. up or down I do not know. I suspect the downside, but this market has fooled me for too long now and may fool me further.
Watch your stuff and keep close stops is all I can say if you are not flat.

Palladium is forming an extended pennant formation and will be very interesting to watch. This happens when the trading range narrows to a point and then will be expected to break drastically from that range.

Platinum is not so dramatic, but I expect an upward run here and also with silver.

I think that I am seeing the precious metals and oil anticipating a break in the equities.

Bonds are crap here and the dollar is strong.

I expect a near reversal in that situation.

DM, Jy, SF move in contravention of the dollar. If you play those, then watch the dollar.

I should have said etc.

I sometimes speak too much, but what the hell, at least you know what I am thinking about and you can skip to the next post if you are more chuckaminded!

Jacob Schmidt, hopeful apprentice of Uri Hoffi, Jewish Blacksmith!
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