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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Richard Mazzarella who wrote (51450)	4/14/2000 12:48:00 PM
From: Rarebird	Read Replies (2) of 116760

Let me clarify my previous point. The high in the Nasdaq Comp was 5150. The Sept/Oct 98 low was 1200, I think. If you average the two, you get about 3175. Now that would work if this is a typical 50% bear market retracement. If it is a change in the overall major trend, then that level won't hold. The next support level would be 2500. It is risky to trade these markets long because there are no safe entry points in a Bear Market. But if you are going to do it, 3200 is as safe as they come ( HA! HA!) for a retracement back to the 3700 level at least, perhaps 4000-4200 before more serious selling takes hold.

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