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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.88+0.9%4:00 PM EST

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To: Enigma who wrote (50898)3/30/2000 9:01:00 AM
From: Rarebird  Read Replies (1) of 116762
 
The 57-60 level on the XAU was a crucial level of support on the chart that was taken out. ABX hitting new lows yesterday was ominous but bound to happen. NEM should follow suit. Actually, NEM looks like a great short here. It is sitting on a perch and their balance sheet is not impressive. A lower POG has not been factored into the share price.

Keep in mind that the whole problem with Gold is this Bull Market in Equities and the strength of the Dollar. Investors, CB's, have questioned the relevance of holding this great hedge and currency.

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