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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: GST who wrote (38078)	7/31/1999 1:22:00 AM
From: Rarebird	Read Replies (2) of 116756

< If they ever get the hang of it they will come out of this with their net worth greatly improved...> The Despair hanging over the Gold Market is Immense and the bearish sentiment is at quite an extreme. But it is the opportunity of a lifetime to be long the Gold Market Now, just before the Professionals switch their financial assets into Gold. I talk about the Great Despair hanging over the Gold Market because many Gold Bugs have capitulated and sold out. The XAU is acting very skitzoid lately too. It can't seem to make up its mind which direction to go. The XAU is licking its wounds, forming a great base and healing itself for its next explosive move UP . What's interesting is that the stocks have been rising lately on heavy volume and declining on light volume, which is indicative of accumulation. I've experienced this type of Despair before in the Spring/early Summer of 1982 before the onset of the Greatest Bull Market in history. It seems that most investors have to get caught in the wrong direction at major turning points before a Bull ( or Bear ) Market is born. This Thread, which I use as a contrarian indicator, is predominately bearish in sentiment and full of despair. Most investors long the Gold Market have their doubts here too. The Question, however, is not If Gold will surge but When. The when depends on the moment when investors have given up all hope for a return of the Bullish Dollar and Equity Market. We may only be about a month away from the recognition by the Street that we are indeed in a Bear Market. The downside risk for the S@P and Nasdaq is great. One thing is for sure: When Gold changes trend it will be very quick and electrifying. The fundamentals are changing rapidly in Gold's Favor. Moreover, many of these companies have restructured themselves beautifully and are now lean and mean. Many of them are poised to make a fortune when the POG cooperates.

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