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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.74

-1.2%

Dec 31 4:00 PM EST

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To: John Barendrecht who wrote (675)	7/18/1997 1:03:00 PM
From: Richnorth	of 116836

Not surprised the Dow is dropping. It is all part of a plan by big business and big time investors to try and 'convince' Greenspan that the market is not heating up suggesting that inflation is still low and therefore there should be no rate hike down the line. (Or perhaps to give Greenspan an 'excuse' not to make a rate hike). As soon as it is announced there is to be no rate hike, the Dow will skyrocket again. So the savvy guys take profits when they drive the Dow down and reload afterwards for another round of profit-taking and so forth and so on until the big top is reached for the big blowoff. How to play? I suppose it is best to follow the pattern adopted by the big operators as much as possible and perhaps to sell about a few days to a week before Greenspan makes an announcement. Just MHO. Seems that gold is looking better and better lately. Hope it keeps up. Someone recently joked that it takes a Martian to be bullish on gold. Perhaps web.idirect.com might amuse you a little.

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