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Gold/Mining/Energy : Gold Price Monitor

GDXJ 143.68

-4.5%

Jan 29 4:00 PM EST

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To: Rarebird who wrote (66556)	3/26/2001 6:39:59 PM
From: Crimson Ghost	Read Replies (1) of 116938

Some formerly bearish strategists (such as Don Hays) are turning bullish now. Hays places great emphasis on the 10 day ARMS index which has always signalled approaching troughs in the past when it rose above 1.5 as it did last week. Still the recent bubble was the biggest in history (at least on the NAZ) and the old rules may not apply. Too public involvement in the equity market is much greater than it was in prior cycles. In this respect there has not yet been any significant public net redemption of mutual funds. Frankly I find it very hard to see an end to the bear until there have been MASSIVE public mutual fund redemptions.

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