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 10:14:09 PM
From: Tom Pulley	Read Replies (4) of 99985

Who would of ever thought that the "Market Direction Discussion" would be as much about gold as about the Nasdaq........and that the majority of the posts on the Nasdaq would be predicting much lower prices before the market turns around? Curious for comments from those that are bullish on gold.....what are the fundamentals that will drive gold up? Although I don't follow gold prices very closely, my perception over the last year has been that gold prices (like oil prices) have been strong due to the "War on Terror" and the common knowledge that Bush was going to go after Iraq. Other than that, inflation still looks well controlled as the economic recover is slow and manufacturing capacity utilization is far below the levels that spur inflation. The weak dollar is bullish for gold, but I don't see a weakening dollar as a long term trend. So, anyone that follows gold closely and is bullish over the next year or so, I'm curious what you think will drive it. Tom

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