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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

4:00 PM EST

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To: Keith Monahan who wrote (47433)	1/25/2000 1:29:00 AM
From: Rarebird	Read Replies (2) of 116753

< What XAU major sell signals are you referring to? > The Major Sell Signal was set in motion on September 28, 1999 when the POG went up $26 while the XAU fell. The XAU is still underperforming the POG which is bearish for both the POG and the XAU intermediate term. A very short term counter trend rally is indeed possible here. But the sentiment for one occurring is getting kind of lopsided. Seems like all the traders and speculators are following that Elliot Wave Guy here. He is usually on the money, but I wonder this time. The XAU, on the other hand, has been responding pretty negatively to the good news from the CRB. It's seems to be giving some kind of ominous message and signal that further downside price action is coming. Maybe your right and we get that counter trend rally first.

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