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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: TATRADER who wrote (58078)	9/12/2000 12:50:46 AM
From: Little Joe	Read Replies (1) of 116757

TA: Are you referring to the August double bottom? That is all I see. It has just completed and projects to about 60 which is near the top of the overhead conjestion. Surely you do not think this is evidence of a major bottom. If on the other hand the double bottom you allude to is the September 99 low and the recent August low, this is not yet a double bottom, at least according to Edwards and Magee. It would take a close around 91 to put in that double bottom which would project a rally to 125. At least that is the way I read the chart. There was a high degree of nonconfirmance in many of the important gold stocks at this last bottom, so maybe something is coming. My gut is that we will need a lot of consolidation between current prices and 70 before much of a rally will occur. O.K. all you gold bulls, I have stated my position. It is probably safe to mortgage the house to buy gold. I am a great contrary indicator. Live long and prosper, Little joe Live long and prosper, Little joe

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