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Gold/Mining/Energy : CDN. MOMO PUPPIES
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To: SwampDogg who wrote (9478)9/28/1999 6:02:00 PM
From: The Osprey  Read Replies (2) of 36688
 
" . This reaction in the POG proves my point of how the decision of the Bank of Japan was absurd. They will go for a lower yen very soon..."

The policy of the Bank of Japan is to do nothing yet.They are exploring options of which one might be to expand M1.They are apprehensive to do this as it will lead to inflationary pressure yet if the Yen does not trade itself out, the higher yen against the US dollar will slow the growth or recovery of the economy.Tough spot and I think you will find they will try and have money traders work it back to an acceptable level.
As to Gold.I agree with russett.....the initial psychological resistance was in the 318 range while the true resistance is in the 365 range.Because of the quick spike like everything else there will be volatility and backfilling before it moves to the next level.
As to the dow and TSE...a single sector does not a rally make therefore tehere will continue to be volatility.A daytraders dream.

Good Luck all and take profits when you can.

The Osprey
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