MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: bobby beara who wrote (83427)	9/25/2002 9:56:55 AM
From: Casaubon	Read Replies (1) of 99985

Hi BB. I think gold stocks are going to pull back and base for the next 2 to 4 weeks. I am actually completely out of gold stocks for the first time in at least two years. My stock of choice (GLG) is still above my last sell, which was $9.33. I believe I will be able to get back in at just south of $8 but I think I'll start to accumulate just north of $8. I believe the rising POG acts as a governor for further price appreciation even as investment demand increases because the jewelry sales suffer from higher prices and the decimation of discretionary spending money continues to be obliterated by the stock market.

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