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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.68

+0.4%

Jan 14 4:00 PM EST

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To: Crimson Ghost who wrote (61820)	12/8/2000 12:18:50 PM
From: Rarebird	Read Replies (1) of 116856

The bottom line is that the economic and interest rate environment has turned bullish for gold. I find guys like Auger(Elliot Wave Guy), Kaplan and GATA to be jokes in their analysis of the Gold Market. A close above 50 on the XAU today is wildly bullish. I've been trading the gold stocks for nice profits over the past couple of weeks. But the risk here is not being long these stocks. So, I'm going to hold and buy all the dips here. If a stock like INTC can give a revenue warning and rise on the news, the tech stocks have bottomed out short term. That is not to say that another leg down won't materialize in the late Winter/early Spring 2001 time frame. Expect a retest of COMP 2500-2600 at the very least. I know there is a tremendous amount of division and hostility between many hard asset guys and high techies; but I'm betting that both these markets will move up together from these levels over the short term. That's my bet as we move into some monetary easing in 2001.

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