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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.99+0.3%4:00 PM EST
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To: Crimson Ghost who wrote (73876)7/24/2001 1:57:00 PM
From: Rarebird  Read Replies (1) of 116753
 
I think you've spoken way too prematurely as usual. The XAU is not out of the woods yet here by any means. It is in the midst of a heap of resistance here and XAU 47 still looks more likely to me than 57. The parallels between this market here, with the market in the summer of 1998, are quite striking. Certainly you remember what took place in August 98 to the goldie stocks. I expect this time will be no different.

I think a good short selling opportunity is very likely presenting itself here.

Woe to the XAU if it does not close above 57.
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