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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: Rarebird who wrote (56102)	7/12/2000 10:05:22 AM
From: pater tenebrarum	Read Replies (2) of 116846

RB, i think your, and other people's, belief that gold being dead means it's representing a buying opportunity needs to be destroyed as well before it can rally.... the stock market rally that's underway now will be the shortest 'summer rally' of recent memory. the bullish consensus as per my positioning and poll sentiment data is close to fresh extremes. one or two days of rallying, and we'll have new all time lows in Rydex ratios, p/c ratios, and new all time highs in AAII bulls (actually the AAII bull/bear ratio is at its worst level ever already - same happened to the latest lowrisk.com survey - worst bull/bear ratio in the history of the poll). however, to come back to my first paragraph, i personally agree with your view on gold. i'm merely admitting to the possibility that i might be wrong - it could be that the gold bear market needs a final wash-out, destroying the last of the faithful. i'm very encouraged though by the recent negative article in the non-financial press that was mentioned here. btw, the opposite is happening with bio-tech. a slew of bullish articles graced the front covers of several magazines lately.

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