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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: Rarebird who wrote (47663)1/30/2000 2:11:00 PM
From: longtom  Read Replies (1) of 116761
 
Hi Rarebird,

Another 20-25% on the downside seems like a lot from these levels, however, I am reminded of when bond yields dived below 5% about 18mo. ago. That was an anomalous and brief spike down from what seemed to be a low that had a lot of support. It quickly retraced and its been steadily upward since then.

If the xau made a similar move from here that would equate to about 20%, I guess. Also the xau is near it's low from last summer, but the pog is well above last years lows. It is very tempting to get in at these levels because I made a handsome profit from a somewhat higher level last Sept. Perhaps a little more patience is the correct play.

Tom
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