Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Crimson Ghost who wrote (94847)	7/15/2002 6:19:49 PM
From: Ken Reidy	Read Replies (4) of 99280

George, I have a great deal of respect for your opinions but I don't buy this argument. You are implying that the people who sold gold shares today did so because they thought the near term odds favored a stock market rally, a stronger dollar and a weaker POG. When the selling commenced earlier today, the stock market looked like it was weakening, the dollar was weakening and gold looked like it had broken through 318 on its way to test 330 again. Technically, most gold shares had resumed their uptrends last week also. I may be naive, but I think today was something different. I understand that the picture looked differently at the end of the day but when the selling started it looked awfully good for Gold. Who knows what it will look like tomorrow. This market keeps whipsawing all over...but the overall trend is definitely down. I'm very frustrated. I have spent a ton of time studying this market and now I feel as if it was a big waste of time.

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