NDX seems sharper now (look how the volume has fallen) and XAU still on a rally (for obvious reasons).
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To:IQBAL LATIF who wrote (42461)
From: JEB Friday, Apr 26, 2002 10:31 PM
View Replies (1) | Respond to of 42782
Hi Ike,
I see the trend you are referring to in how it trades for the last several years. The latest rally seems different to me. Historically, the rallies are typically sharper and shorter than this latest rally. This is a steady rally (unusual for the XAU). The Consumer Confidence came in lower than expected (that will change again but is still worth noting). I really believe we are seeing a 1993 rally here but not to that level of a high.
I believe the consumer will want to own gold (just a portion for the security). I also believe the market will see wild times ahead but, in the long term (next 12-months), will do pretty good (not spectacular). I think the NDX will change roles with the XAU, in that it will now be the one that trades in sharp moves and the XAU will trade more evenly. The volume in the NDX will tell this tale.
I heard a report that 90% of US high school students who were polled said the best investment for today is US savings bonds (oh, ...man, ...have we "dumbed down" our youth?, ...or is this an example of their fear?).
Good trading,
JEB
Message 17391549 |
