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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Little Joe who wrote (16306)	8/10/2003 5:40:45 PM
From: TrueScouse	Read Replies (1) of 39344

lj: Great post! I also like to look at the long-term monthly charts and I agree with your projections. Only one point of clarification... My CRBI charts show an all time high at around 276 in 1988. So your "breakout from double bottom" target of 278 would almost exactly match that -- which makes sense. The 1988 high occurred about 6 months after a major fall in the US $ Index (from 130 down to 85 over the previous couple of years). Incidentally, the US $ then went into a long-term bottoming formation that took it down to about 80 but that lasted almost 10 years! It then started its major move up from 1997 to 2001. So these $ trends last a very long time -- especially the downtrends. What the US $ chart is telling me is to expect a rapid move down to strong support at about 80 over the next 12 to 18 months, and then several years of "agony" for the greenback as it forms a bottom in the 70 to 75 range -- i.e. a bear market and consolidation for the rest of this decade. Again, great post LJ. It's vitally important to keep the big picture in mind. Thanks, Howy

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