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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: long-gone who wrote (73880)	7/24/2001 3:58:02 PM
From: Rarebird	Read Replies (1) of 116756

<Word is traders are betting the possible strike.> The primary reason to be long gold stocks is that the U.S. Dollar is in a Bubble and it must eventually burst like the NAZ. <Have you considered throwing your T/A out the window for the time being at least?> Many technical traders already have the XAU on a buy signal above 55.55. The type of decline that I have expected from these markets into the early Fall, will make it extremely difficult for the gold stocks to buck the trend unless there is a strong corresponding drop in the dollar. The USD vs Gold. That's what it is all about here. Very simple. The Bush administration needs to campaign hard for a strong dollar in order to prevent the downturn here from becoming even worse. He can't be Pro Gold at this point in time. His hands are tied. $500 POG won't get Bush reelected unless the equity market also rallies. Lack of Confidence is a very big problem for many people when it comes to Gold. Everyone knows the dollar here. Isn't that what you spend when you go into your pocket?

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