MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (2682)	4/27/2000 10:01:00 AM
From: Copeland	Read Replies (2) of 19219

Copeland, It will be interesting to watch the XAU Index today in relation to the eco numbers. Gold is like cyclicals. Everyone runs to it briefly when the going gets bad and when it even looks like there's a possible turnaround in the formerly hot sectors, everyone runs out. Gold has a number of problems as a commodity to trade. One, heavy manipulation of pricing and supply by the banks of the world. Two, lack of consumer demand for the metal itself. Three, frequent and heavy leverging by the gold producers themselves. Four, hatred of the metal by many traders who have been screwed by the many false breakouts in the price of gold. All in all, it sucks as a long term investment. Great for a place to run to when it looks like tomorrow is going to rain cats and dogs; bad if you plan on keeping it there for months. Now then -- where do I stash my cash if this market turns sour permanently? One such "better play" would be to buy select currencies or foreign stocks when their charts start looking good -- again, only when its technically right. A lot harder, but more profitable.

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