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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: long-gone who wrote (49319)	2/18/2000 2:57:00 PM
From: donald martin	Read Replies (2) of 116764

<<"something funny" is going on in the gold market.>> I have this nebulous sense that the "funny" that's going on, both in the gold market AND in the US securities markets, has to do with the wild success of momentum based trading over the past several years. I've been scolded over the years for not using stops to get out of most of my mining issues. Momentum trading gets a lot of accolades for its ability to avert capital drawdowns. However, all these models, or at least the successful ones I've seen to date, rely on price continuity as a capital preservation device. A nice, healthy dose of illiquidity will bring a healthy bit of skepticism to trend trading AND put gold on better footing.

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