MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

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Nov 10 4:00 PM EST

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To: Crimson Ghost who wrote (38127)	1/26/2000 4:16:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

re: gold stocks: the poor performance og the PoG and the gold stocks following a 4,3 times oversubscribed BoE auction is very disappointing and an indication that RB may be right about a capitulation low shaping up in the near future. the XAU has broken decisively through support and reminds me a bit of the trannies, only it looks even sicker. the gold stocks are however discounting much lower gold prices at current levels, and this lack of enthusiasm may make for a buying opportunity soon. look at last years capitulation low in the XOI after support was broken...i believe something akin to that scenario may be shaping up here. note that some bears are calling for a PoG below 200 bucks before a sustainable rally can be mounted. that sounds a bit too extreme for my taste. the sector bears watching...

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