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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: pater tenebrarum who wrote (55710)	7/5/2000 11:26:06 AM
From: Rarebird	Read Replies (3) of 116770

Yes, it does look bleak, technically speaking, for The XAU at the moment. A close below 56 would issue yet another technical sell signal. The XAU here looks like the S@P in the spring of 1982, where it kept on declining in spite of improving fundamentals. When one starts wondering if anything will have a positive effect on an index, it usually indicates a bottom is not far off and a rally is imminent. Oh Yes, all rallies are widely viewed as unsustainable too. Are we at the hopeless stage yet? PS I'm holding my gold stocks because I'm more fundamentally oriented. But price action is the pits.

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