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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Zardoz who wrote (60364)	10/31/2000 7:55:21 AM
From: Rarebird	Read Replies (3) of 116764

The real question here is: When will we know that we have a bottom in the gold market? The bottom will be in when just about everybody thinks there cannot be a bottom. Is the gold market truely sold out? Doesn't just about everybody either hate Gold or think that the POG is going much lower? How many bulls are there in relation to Bears here? I've never seen this thread so bearish. At some point- and I think we are approaching this point in the near future- the puts and shorts will stop working. Even bad news won't push the gold stocks lower. Actually, bad news will produce a rally. I'm going to take a good look at HM this week before I reestablish long positions in ABX and PDG. HM is reporting earnings this week and I expect the results to be darn right ugly, to say the least. Now even though a lot of bad news is already priced in the stock, I want to see how the market responds. It could give us a clue as to whether this Gold market is truely sold out and ready to rally. Stay tuned....

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