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Gold/Mining/Energy : Gold Price Monitor
GDXJ 92.99+2.9%Nov 7 4:00 PM EST
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To: Crimson Ghost who wrote (48008)2/4/2000 10:32:00 PM
From: Rarebird  Read Replies (2) of 116753
 
George Cole: Care To Make Another Prediction:

To: Rarebird (47594 )
From: George S. Cole Thursday, Jan 27 2000 2:25PM ET
Reply # of 48026

Rarebird:

The tech bull is over. Greenspan will hike rates 50 bp next week. He does not want a crash or major bear, but does want a significant correction -- and especially in tech. The bubble in NASAQ has reached a point where it is hurting the rest of the market ands threatens to overheat an already roaring economy.

I am now short the NASASQ 100 via USPIX. Up 12% the last few days and I see much more ahead. The rest of the market will only come to life in a big way after the NASDAQ bubble bursts.

Message 12701098

Now I thought I would point out to You that there is a tremendous difference between your prediction and mine. Far From being short the Gold Market, I still own a half of a position in this Market on the Long Side.

I am all for and would love to see a speculative rally here that would push Gold up to $500 an ounce, like Platinum and Palladium. It would allow me to exit my half position gracefully and with a very nice profit. The fact that the XAU is severely lagging the POG makes me think that this rally is unsustainable and that a bottom is still not in this market yet. I understand the reasons presented for this lag. Yes, there is historical precedence for the POG leading the XAU. I'd love to be wrong and profit.

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