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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: Zardoz who wrote (66334)	3/21/2001 10:38:31 AM
From: Rarebird	Read Replies (1) of 116770

First, the statements by the Fed enable the possibility of an additional easing of interest rates between now and the next meeting on May 15. If the markets continue to deteriorate this is a real possibility. Second, weakness in investing was mentioned several times in the Fed's statements. This indicates that an economic slow-down could be longer than anticipated and also points toward significant interest rate cuts in order to spur investment. According to my analysis of the Fed notes the "... transitory factors such as energy and inventory adjustment received less weight in this statement than in previous statements". I believe that the language was similar to language in December that telegraphed an inter-meeting move in early January. I am looking for a relief rally today. <USA is based on the mighty dollar seeking returns.> Yes, but foreigners have been big sellers of equities. Rallies will be sold IMO till growth resumes. The outlook there is cloudy at best.

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