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Strategies & Market Trends : The Options Box

QQQ 613.62

-1.9%

Dec 12 4:00 PM EST

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To: stomper who wrote (9941)	3/9/2001 8:32:47 AM
From: Poet	of 10876

Yow, that chart from cybersavvy is fascinating and a wee bit scary. Have you posted it on the CFZ? I'd be interested in hearing what my favorite chart-chasin' clown, Allan, has to say. And I forgot to include Hahn's bit on the POG with regard to the Yen: old lease rates suddenly cut loose to the upside. This is a policy change of great significance that set off a short squeeze in gold stocks. Additionally, the Bank of England announced that after the next gold auction of central bank reserves, they would be selling only 20 tons per auction rather than 25 tons as in the past. The XAU literally exploded to new highs. Nothing more to say! From here on, just buy the dips, whenever they occur. Please take a look at the XAU correlation to the price of gold in terms of Japanese Yen. This is a much better match to the XAU than the price of gold in terms of US dollars. The big issue is the inevitable devaluation of the Japanese Yen. Understand this situation, because it will affect all financial markets. The XAU weekly chart offers a longer term perspective and indicates the potential of the advance.

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