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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: goldsnow who wrote (59530)10/8/2000 10:13:24 AM
From: Rarebird  Read Replies (1) of 116846
 
<New Lows for Naz certainly does not bode well for The Bull Market and ultimately for dollar...>

Sounds to me like your counting your chickens before there hatched. Moreover, if a global bear market does come to pass, US Treasuries will get a very healthy bid from Asians and Europeans. Global Equity Bear Markets do not usually mean Bull Markets in Gold. Gold only bucks the bear trend in equities less than 40% of the time. What usually occurs is that the gold stocks decline even more than the broad market.

<new lows are most bullish not bearish sign>

New all time lows for the XAU are bearish for the POG moving forward. It could take up to a year or two to manifest itself. Remember the all time lows in August 98 for the XAU? It impacted the POG a year later.

This is a 20 year bear market in Gold. Some day it will end. But who knows when. The transition to bear to bull takes place in a successful retest of a bottom, not in breaking to new lows, as the XAU has done. Actually, the XAU could rally back to around the 115 level in a bear spike and then give it all back and hit new lows again. But then again, you and I would be shorting gold stocks if the XAU spiked up to that level. <ggg> I would.
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