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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: sammaster who wrote (50950)7/7/1999 10:15:00 PM
From: Lucretius  Read Replies (1) of 86076
 
i'm not sure it is that significant.

what is significant is the fact that the gold shares didn't implode when gold hit a new low yesterday. The mkt appears to believe that not only is a gold bottom near but some sort of large short covering rally will soon follow due to the fact that the gold shares have not hit new lows and didn't even return to their old lows of only a few weeks ago.

i think all eyes should conitnue to focus on the bond mkt.. if the long bond breaches 6.25, stocks should begin to unravel which will take the dollar w/ it, which cause gold to rally and set off a chainreaction of spec shortcovering in what is likely to be one of the largest gold rallies in history. we continue to close in on these events, but nobody knows what day they will occur.. could be tomorrow, could be a couple weeks or a couple months.... but the action in gold shares as well as the bond mkt says we are near, IMO.
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