MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Square_Dealings who wrote (12420)	5/27/2002 8:55:24 PM
From: t2	Read Replies (1) of 19219

The dollar has already made a big move down recently. It probably has support at current levels; I see it bouncing for a while (maybe a few days to a couple of weeks). Just can't see the straight down move you are expecting. In a rising or even stable dollar, gold probably pulls back. I would be more interested in how much it declines and how fast. If the decline is a few dollars down, that would be very bullish. Of course if the dollar picks up steam on the downside, that may be incredibly bullish for gold and probably blue chips stocks as well and bad for bonds. Could create a new sort of "flight to quality" trade and this time it would be out of US bonds; more likely to go into large cap multinationals and golds. Most foreign holdings in the US are in the bond market and that would be why bonds are a bad investment, imho. Dollar bubble bursting will hit them the hardest. BTW--One thing working for gold stocks is that short interest has increased from April 15 to May 15 in the bigger cap names. (quite a bit in many cases). Sets the stage for a major surge...I am just betting on a better buying opportunity after the stock markets make a bit of a run up here.

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