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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (11678)2/24/2001 11:30:32 AM
From: Crimson Ghost  Read Replies (1) of 30051
 
Zeev;

I am not predicting a huge run for gold or gold stocks at this time, but am obviously more positive than you are. Regarding lease rates and POG we are seeing the double impact of higher lease rates and lower returns on short-term treasuries. The leasing business already is considerably riskier and less profitable than it was as a month ago. Also the dollar could be headed for a considerable drop IMHO.

POG $270-275 and XAU 58-60 look reasonable to me before too many moons have passed.

My target on QQQ assuming the Fed does cut next week (I look for 25bp with another 25bp in March) is 58-60 over the next month. I suspect we will peak just before the next FOMC. After that we retest the lows.

I do agree that Friday's bottom -- while decent -- was not the best. That is one reason why I cannot see QQQ approaching its previous peak on the next rally.
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