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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Terry Whitman who wrote (36640)6/3/2002 9:27:18 AM
From: Paul Shread  Read Replies (1) of 52237
 
Swenlin on gold: "Gold is in a major bull market. There will surely be some healthy declines, but I assume that such retrenchments will be in preparation for higher highs. On Tuesday Rydex Precious Metals Fund had a one-day increase in assets of about +25%, and total assets far exceeded any previous asset peak. This could be characterized as a blowoff, but this bull market is just beginning, and I think it more likely represents a "recognition impulse" that signals the onset of a much stronger advance. Bullish sentiment for gold is exceedingly high, but bullish sentiment is not always wrong. The stocks have gotten ahead of themselves and are correcting, but my guess is that the XAU will find support at around 80, then will advance again."
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