thanks mike I bookmarked it...
Here is a guy from YHOO, Budapest listing, who shares my views on what is happening in gold market...
Budapest) 02/12/01 02:54 am EST
Msg: 34559 of 34576
1. Friday the US Dollar price pushed up to 112.57 before reversing sharply and closing near the lows of the day. There is nothing in the technical patterns to suggest that the bearish outlook toward the Dollar should be altered. The next move should be down and the early January lows should be broken.
2. The XAU continues to stay on its support area of 46-47. We should be expecting a rally to develop from current levels that will carry above 53, or up to the next resistance of 57-58.
3. POG continued its sell-off last week, falling to $260. But there appears to be some bullish divergences on a few of the momentum oscillators. A new low early this week against rising or steady momentum would provide a stronger buy signal.
If gold closes significantly below $258, especially if with strong momentum, I would probably sell my position. A break below the $252 low of August 1999 would be very important. A break at this level could start a strong selling wave, marking the capitulation, the final endstage of gold's 21-year bear market. It's getting very interesting.
Worryingly, Silver gapped lower last week. This told in no uncertain terms that silver is heading lower. Daily momentum is pointing hard down. The sentiment is very low, so prices could bottom close to current levels and start a significant rally. Or, silver could get crushed right here, with downside target below 3.50.
Still, with NASDAQ and SP500 pointing downward, the FED is months to next meeting, I expect a shortterm 3-4 week long rally in Gold and Silver miner’s stock prices |
