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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.06-1.4%Nov 17 4:00 PM EST
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To: scotty who wrote (51018)4/1/2000 11:45:00 PM
From: Rarebird  Read Replies (2) of 116762
 
Scotty, Growth last quarter was 7.3% and the Fed may be forced to raise rates more aggressively in the future, in 50 basis point increments over the next 6 months. That bodes well for a strong dollar over the short to intermediate term. I think Gold is in serious trouble over the next couple of months, 38 week Elliot Wave up cycle or not.

GST's point about Japan siphoning off some funds from the US is possible but not probable. A little has already been siphoned off. But Japan is in a recession and the Nikeii is approaching some pretty stiff technical resistance on the chart. I would need to see this rally in Japan continue into the next quarter and the Nikeii break the 23,000 level in order to get confirmation of a trend change. My hunch is that what we are seeing in Japan is a Bear Market Rally.

The US account and trade deficit is enormous. The US economy is one of the fastest growing economies in Asia and Europe and its currency is the reserve currency of the World.

Who knows when the Piper will finally get paid? My guess is sometime in 2001 as Greenspan overshoots raising rates and causes a recession.

I continue to think that NEM is a great short here because the decline in the POG has not been factored into its share price.
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