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Gold/Mining/Energy : At a bottom now for gold?
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To: Bobby Yellin who wrote (303)3/25/1997 5:45:00 PM
From: Bo Bob Brain   of 1911
 
Lower Gold and Silver prices upcoming.
Higher interest rates are negative for the precious metals. We saw
them sell off late today. Look for more selling in Gold and Silver. Looks like we will test support areas now at the bottom of the recent
ranges of 345 and 5.00 - 5.05 silver. These are critical support levels.
If we break those levels, we could accelerate to the downside.
Todays higher interest rates are a pre-emptive stike against inflation,
and we need inflation to have the precious metals going higher.

The S&P must move above 806 (todays high), for the stock market to
approach its highs. This must happen in the next day or two, if
not, we could have a considerable sell off, much more than the
decline of the last few weeks. It would be the third wave in the
Elliott Wave set up, and those are usually the largest declines.
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