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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (15397)7/9/2002 1:55:54 PM
From: t4texas  Read Replies (2) of 36161
 
when gold and gold miners are acting up or down, i always look at the us dollar first for "suggestions." the dollar is testing its upward trendline at about 106, and if it breaks down from there it is going much lower. so i would assume the gold and gold miners are moving by some who anticipate the 106 area won't hold. last i looked the sept. dollar futures were down to 106.25 and gold futures were up about $3 today. if 106.x holds, i have to assume the gold action will cool down again. that assumption would be because the dollar would try to make a stand from that testing and would move up some at least temporarily. of course if the dollar breaks down from the 106 level now, gold has got to move much higher and the stock markets should tank pretty fast.
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