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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

Nov 18 4:00 PM EST

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To: banco$ who wrote (42065)	10/5/1999 11:23:00 AM
From: IngotWeTrust	Read Replies (2) of 116762

Hi, Banco. If memory serves me correctly, the number that will make the gold price rally "news" is not going to be the benchmark, round number of $500 T/O. I believe Ian McAvity, the former Central Fund of Canada (mostly silver) Fund Manager, and chartist extraordinaire has stated many times that the news making POG point requires BOTH the following items: 1) London PM Fix above $421.63 2) MUST be the PM Fix If you recall, the short burst rally effort a few years back stopped just shy of that number by massive LDMA piling on, at approximately $409-415 level. When $421 and change is broken: ...it will take 2 out of 3 FIXES above that inflection point to turn resistance into support; ...it will need to occur on heavy volume. Speaking of Ian, I think I'll be about the business of renewing that subscription. If anyone can see straight in this cockeyed world of gold, silver and CB puckey slinging, it is that old Canuck with a sharp pencil and a ready wit. My admiration for him as a metals guru surpasses everyone, including the prescient John Murphy of Murphy-Morris.com C'ya O/49r webmaster at Blue Bucket Gold Diggings oregontrail.net

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