Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Roebear who wrote (701)	8/27/2001 5:31:46 PM
From: gold$10k	Read Replies (2) of 36161

Roebear, In July, 1998, XAU was consolidating in the 67-71 range when the broader market turned south and pulled XAU 20 points lower with it. At that time, 60 had been the bottom for XAU since at least 1985, which is as far back as BigCharts' data goes. bigcharts.marketwatch.com XAU fell 11+ points below that level in August '98, so I wouldn't discount the possibility that we could see XAU 42 again if the panic reaches a crescendo (it's a musical thread <g>). If that happened, it would likely be the "official" start of the bull market in precious metals, IMHO. As you know, nothing is for certain, so I'm not selling my explorers, but I'm glad to have some cash. vt

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