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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: long-gone who wrote (49636)	2/25/2000 7:10:00 PM
From: Rarebird	Read Replies (2) of 116796

Richard, your not far from getting one of your wishes come true: The Dow is approximately a little over 500 points from its July 98 peak of 9314. If the Dow closes below the July 98 high, we get a Bear Market signal and the Nasdaq should soon sell off in a very big way. In what way this is beneficial for Gold I'm not sure yet; for the dollar must at some point eventually decline for gold to rise. A bear market in the US equity market does not necessarily mean a bear market in the dollar. A recession is what is needed for that to occur along with foreign liquidation in dollar denominated holdings. Perhaps a possible trade war which you spoke of earlier could facilitate matters in that regard. The POG could not hold above $300 because the dollar was much to strong. The XAU forecasted that very clearly. The Nasdaq has got to crack or Gold stands no chance to rise. Even if the Nasdaq breaks, other factors must fall into place or Gold stocks will fall with the rest of the market.

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