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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.67

+0.4%

Jan 14 4:00 PM EST

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To: Zardoz who wrote (53132)	5/22/2000 6:48:00 PM
From: TATRADER	Read Replies (1) of 116856

Father Hutch, must make confession, trailing stops taken out..As Lizard King used to say, "Taco money today!" Back to AEM and cash... Quick XAU analysis: Positives: 1. Closed higher than open 2. Made a higher low 3. Made a higher high 4. Past flagpole of 7.71 calling for move from consolidation to the next target area of 64.25-65.00 5. Restudy of longterm trendline puts downward trendline at 56.25..Thus far we are holding above it..I will become bearish should this level be broken.... Negatives: 1. Did not close near high-top 25% of daily range 2. Did not hold above 21 day or 50 day moving average 21 day at 58.20 and 50 day at 58.09 3. Still showing by action today that XAU mired in 30 period envelope channel..range is 54.72-61 7/8... 4. ADX still stuck at 16 showing no uptrend yet, but trading range index.. Conclusion: XAU could be bought again on a move above the 50 day moving average followed by a trailing stop to guard profits..However, present action in index is indicative of trading range from 54.72 to 61 7/8.... Recommendation: Stand aside but keep finger on mouse button....

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