MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (7600)	4/18/2001 2:16:44 PM
From: Rextar98	Read Replies (1) of 19219

Thanks for the update JT! You probably saw this already. Category: TA From: drak (Mike Drakulich) To: ALL Date Posted: April 18, 2001 at 12:27:03 Subject: WATCH GOLD, SILVER and GOLD STOCKS Watch the gold stocks and gold and silver here as I think we could see a BLAST OFF as Greenie and the Fed CAVE on inflation in a "pull out all the stops move to avoid deflation" and err on the side of inflation, and it may be a BIG "err". With the enery problem only likley to worsen and all the discolations for the Naz bubble last year, the metals may get a strong "whiff" of a developing stagflation, something I have been forecasting as developing for well over a year. Don't forget the huge M3 growth in recent months and all the liquidity the Fed has been adding, also note this moprnings BIG dollar reversal so far. If the XAU takes out 52.68 it looks like a BIG acceleration up to at least the old high above 57, and maybe a LOT higher. I am flat the stock market and was in that position going into today, and I remain long Japan from much lower levels. Buckle up for safety out there. Nice risk/reward here, you can buy the XAU(or whatever quality gold stocks) at it's current level of 51.91 with a stop under this mornings low at 50.39 on a near term trading basis. Good chance for a good rally at least above 57 level. Drak He found the bottom here: gold-eagle.com

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