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Strategies & Market Trends : Strictly: Drilling II
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To: Jim Willie CB who wrote (16904)8/5/2002 4:32:08 PM
From: Louis V. Lambrecht  Read Replies (2) of 36161
 
Not only is the XAU below 200 DMA, it also prints below 400DMA.
I also rule as possible a technical correction of the PoG towards 295, it then would be below (down sloping) 200DMA and further correction could not be excluded.
I am not as bullish as you are for the HUI.
If XAU tanks, people who entered this rally late will make no difference between hedged and non-hedged. IMHO, they'll sell all.
BWTHDIK
As I also expect PoG @350 with the next rally, I am waiting for a re-entry. (Maybe stoopidly).
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