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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Logain Ablar who wrote (5698)	2/21/2002 7:18:17 PM
From: Hawkmoon	Read Replies (1) of 33421

If you all want to see a scary chart, take a look at the BKX monthly going back 10 years: If it doesn't get a relief rally within a month or two, we could be seeing signs of a banking crisis in the US: bigcharts.marketwatch.com Can we say "head and shoulders"? Now to compare that to the XAU 10 year monthly, it's a very interesting comparison that I can't imagine is being ignored by the hedge funds out there: bigcharts.marketwatch.com And those who know me will realize how much this pains me to admit that the shiny yellow metal may once more "have it's day".. And I'm becoming more and more of the opinion that a run on Japanese banks may be the catalyst for it. I also heard there's a report out there by an analyst who's claiming that if the POG breaks above $350/ounce resistance, it has a free run to $500... And that would drive the XAU up astronomically. Let's hope I'm wrong. Hawk

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