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Gold/Mining/Energy : Gold Price Monitor
GDXJ 90.01+2.8%Nov 5 4:00 PM EST
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To: Zardoz who wrote (50230)3/11/2000 12:54:00 AM
From: Rarebird  Read Replies (3) of 116752
 
<We are clearly in a bull market.>

You can't be serious. You call 40 to 50 red hot stocks a bull market while investors and traders have ignored most of the rest. This is not the first time in history that such a phenomenon has occurred, but this is what a traditional bear market looks like. Most stocks get pummeled while a handful of stars shine, often while hardly anyone talks about what the internal market has been doing. That is typical: Just talk about the winners and how everything is beautiful while in point of fact the vast majority of stocks have been in a Bear Market for the last 23 months.

We are in a Bear Market here in the States. The typical Bear market runs 6-18 months; this one is almost 23 months old for the internal market condition, such as the Advance/Decline Line reflects. This is incredible in that the NDX is at new highs while the DJIA is bordering on a post-meltdown crash. Even in 1929 breadth was better at the top.

These Rate increases by Sheriff Greenspan are keeping the Dollar Strong and Killing the XAU. High Oil and a Weak Dollar can create Stagflation, the best friend of Gold. Oil is still high. Traditionally, the Fed Chairman will refrain from raising rates leading up to the Presidential Election. If the Dollar begins to weaken over the summer( or late spring) when Greenspan stops tightening and Oil does not moderate, watch out: Gold will rally very strongly.

PS Another 700-1000 point decline on the Dow and Greenspan will stop tightening. What he really wants is for the NDX to correct.
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