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Gold/Mining/Energy : Gold Price Monitor

GDXJ 136.34

-0.4%

Feb 10 4:00 PM EST

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To: Crimson Ghost who wrote (39773)	8/30/1999 6:32:00 PM
From: Rarebird	Read Replies (2) of 116976

< Looks like we might be getting that final shakeout in gold stocks I have warned about.> What type of a final shakeout in gold stocks are you talking about? The XAU bottomed out on August 31, 1998 at around the 48 level. That was the shakeout. We're about 35% higher almost a year later? A move to the 60 or 57 level hardly qualifies as a shakeout. Do you see the XAU closing substantially below the 48 level? Now that may qualify as a shakeout. I wish you would clarify what you mean here by shakeout, George? A day when the XAU falls 2.5% when gold is up a little bit and the US stock market sells off is, indeed, a little disappointing from the standpoint of a gold investor; but it hardly qualifies as a shakeout or the beginning of a shakeout. The Gold Bulls on this thread have been through a lot worse than days like this. In comparison to May 7, 1999, today was like heaven. We know and have experienced what a Bear Market is. We also know that the tables are about to be turned soon in our favor. Be patient.

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