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Strategies & Market Trends : Anyone follow ASA on the NY?
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To: Mike A who wrote (5)7/10/1997 1:49:00 PM
From: Dale Schwartzenhauer   of 15
 
Mike, I don't think $250 is in the cards, it is being emphasized by too many analysts and traders. The Australian announcement was definitely the major reason behind the drop. It's been my experience that these historical events are too often extrapolated ad infinitum, as though it were a foregone conclusion. They can't re-sell the gold twice, like a short position, and it won't be re-purchased to be re-sold, so it's irrelevant to the current case.

Dale
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