Gold Price Monitor Message Board

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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: scotty who wrote (61751)	12/6/2000 12:34:18 PM
From: Rarebird	Read Replies (1) of 116764

I don't see anything quite yet to indicate that "Gold (Stocks) Look Explosive Now." After yesterday's reversal, a strong snap back rally on heavy volume is needed to produce the kind of explosion your looking for. That means PDG must close above $9.8125; NEM $16.375; HM $5.25 all on heavy volume. The opportunity is certainly there today with the POG up close to $3 and the Dollar Down. The risk for the Gold stocks here is that once this election is finally settled once and for all, the equity market may see the same kind of explosive rally as it did yesterday, where some traders will foolishly sell their mining shares which they bought as a hedge. No, I'm not turning Bearish. I'm wildly bullish on gold stocks into the spring of next year. I still own Gold Bullion and 1 gold stock. I just think the "explosion" that your looking for has already taken place in regard to the equity market, not gold, and I expect more explosiveness ahead, in spite of today's expected pullback. At some point, both the equity market and gold market will move up together as monetary easing gets discounted. If the Dollar Index closes below 112 any time soon, the POG should get a further boost from that. Today's action in gold stocks looks thus far to be a countertrend move to yesterday's Reversal. I'm looking for further Bullish Confirmation. It's only a matter of time before the POG surges. I'm watching closely. The tragic gold stocks are the key here.

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