SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold Price Monitor
GDXJ 128.07+0.7%Jan 16 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: baystock who wrote (39002)8/15/1999 10:21:00 AM
From: Rarebird  Read Replies (1) of 116884
 
Ram Rao:

I looked at those charts on MSFT and ASA. It looks promising but is inconclusive. The chart on MSFT doesn't look like a major trend reversal yet. The chart on ASA is forming a rising bottom formation.

There is no question in my mind that the XAU and POG are going to make another valiant attempt soon (possibly in September) to break above their downward trendlines dating back to the first week of February 96. These trendlines were touched on October 7-8, 1998 and driven back. These trendlines were actually crossed on May 5-6, 1999 and driven back as a result of the BOE's announcement to sell more than half its Gold reserves. I need not tell you how much despair was created as a result of this. Many technicians, such as John Murphy ( formerly of CNBC ) publicly stated after the BOE announcement that they hardly follow the Gold market anymore because it is being manipulated. I don't know where you stand here, but I feel extremely eerie about Goldman's long position on the Comex. Personally, I wouldn't trust anything that is said from that outfit.

These downward trendlines are going to be broken someday. I think the chances are good that they will broken this September. With a lot of fear and some panic over Y2K about to surface in the fall, I see a big decline in the US Stock Market and a resurgence of Gold as a safe haven coming. Let's see how this all plays out.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News