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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who started this subject2/10/2002 11:26:18 PM
From: macavity  Read Replies (2) of 33421
 
Discussion.

John, this is why we all luv this board. The level of discussion.

With reference to Gold Shares and POG, I know nothing fundamentally, I just look at the charts. Gold Shares are good; POG looks good as well (monthly).

All that we all need to do now is forget our theories and look at our levels. The market (as always) will decide. We will rationalise correctly after the fact looking back to this point, saying that the fall/rise in Gold was obvious given the facts that we had.

That being said, I will now offer my own theory. USD is the only currency game in town. Could POG join in? Of course, the market needs no rhyme or reason. I am actually based in Japan and trust me the country is frighteningly zombie like.
IF they were to rush for gold it would be a new bubble -period.
WILL THEY? I do not know, but I sure as hell would if I knew that the Government insurance on my account at my (most likely insolvent) bank was going away on 01Apr this year.

From the discussions I am seeing more and more (fundamental) reasons to buy rallies from o/sold levels.

Good luck all! Gold bugs or not.

I may go to Otemachi and count the number of customers leaving nervously with brown paper bags.

-macavity
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