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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Joan Osland Graffius who wrote (49677)	5/7/2000 11:36:00 AM
From: Zeev Hed	Read Replies (2) of 99985

Joan, my point is that in that in the last three years we had at least two major occasions to be "scared", the Asian Melt down, and the closing of the Russian markets, I could add the LTCM fiasco and few others, but none of these cataclysmic events caused gold to go up significantly. I also think that the recent 35% hair cut in less than three weeks the NAZ got should have raised the level of fear a little more. The fact that it did not cause gold to budge tells me two things, the fear was not great enough, or gold no longer is the safe haven it used to be. Gosh, if the Asian melt down and the recent NAZ melt down did not do it, what will? Zeev

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