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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97
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To: White Shoes who wrote (148)4/1/1997 5:40:00 AM
From: William H Huebl   of 297
 
Hi GS,

You know that it is times like this that I appreciate the value of technical analysis. Gold was down a couple of dollars yesterday and other mining stocks were also. But to have other mining stocks like yours and HM to move up represents an apparent inconsistency until you turn to TA. When you look back to Dec 96 or summer 96 you can see some of the counter-trend rallies occurring. and when you run correlation studies between NYSE and HM, for example, you find it is correlating BETTER as time goes on.

The bottom line here is that I think we are in for some more downside both in the equity and gold markets. But I could be wrong. (Again?)

Regards,

Bill
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