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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.59+2.2%Dec 26 4:00 PM EST
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To: Zardoz who wrote (51675)4/18/2000 11:25:00 AM
From: Rarebird  Read Replies (2) of 116833
 
Hutch, "Bull Market?"

Just as I expected today: A strong nervous rally at the open and a very possible late day sell off. I would buy into that sell off near the close for a trade. The Bear Rally will last a while before it fails.

Investors will emerge dazed and confused from the heights of elation leading first to denial ( which is where most investors are at now unless they received a margin call), then to despair as they adjust to a more sobering reality.

As hope descends into surrender and markets capitulate, there are choices which are somewhat beyond our control as individuals. I hope Greenspan gets the message before it is to late: There is still time to change monetary policy and begin easing before a recession sets in. If Greenspan doesn't start easing, what will take place is a series of alternating rebounds that fail, destroying faith, and putting into question the basic philosophy of the new era generation. It will eventually trigger a sell off in the New York Stock Exchange that was comparable to what we saw most recently in the already decimated Nasdaq Market Place.

I'm especially concerned here about a possible derivatives
blow up, similar to what took place in LTCM in the late summer of 1998. If that comes out of the closet over the next few weeks, then the S@P could see 1040.
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