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 (10053)	2/2/2002 2:17:54 PM
From: At_The_Ask	Read Replies (1) of 19219

My take on the GATA thing is that while the case is still open, nobody is going to pull any monkey business as far as selling down the market. Why add fuel to the fire? That's assuming such a thing ever took place. After the case gets thrown out it will be back to business as usual. Although on a macro scale I think the gold carry trade is finished anyway. I agree gold is really threatening a breakout here. It's perfect because everyone is conditioned to anticipate failure. HUI and XAU have not been acting tentative in the face of the various resistance lines they have taken out so far. The trend slope looks a little perilous. However, their hasn't really been any volume into the HUI yet. People may be chasing performance through fund buying. I believe gold funds had the highest returns last year, sort of a January effect for gold shares. If I have learned anything it is that things can run a lot further than seems likely, to the upside and the downside. Long gold but nervous... ATA

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