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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: 4figureau who started this subject8/7/2002 12:48:44 PM
From: 4figureau  Read Replies (1) of 5423
 
Richard Russell:

dowtheoryletters.com

>>Gold -- I thought that gold acted fairly well today, in view of the big rally in the stock market and particularly in view of the huge surge in the Dollar Index. We're still in the early phase of the gold bull market, and we're going to see a lot of backing-and-filling, as gold attempts to rise while taking as view holders with it as possible.

Actually, as I write many of the gold shares are higher, or at least slightly higher. Again I want to emphasize that you should only buy a quantity of gold shares that you are comfortable with. It could be months, even a year or so before the next phase of the gold bull market "takes hold." Therefore, patience will be needed, and the gold bull will try his best to shake you out of your position.<<

DOW:

Comment -- This rally looks as though it has "legs," and I base that on the "double-downside non-confirmation." In other words, something "real" in the price structure instead of just a sudden upside pop that seemingly comes out of nowhere.

So let 'er rip, and let's see how far it can go. How'd you like to be short here? Which is why I don't recommend shorting, even in a bear market (unless you're a professional or a floor trader).
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