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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Andrew who wrote (20718)9/19/2003 6:20:36 AM
From: crustyoldprospector  Read Replies (3) of 39344
 
Danger for shorts here is that once guys like Russell and Saville start giving the DOW benefit of the doubt, volumes and prices may perk up in concert. Might be a blow-off, but blow off to where? With DOW 9600 taken out, I don't see resistance until 10300.

Gold will continue following stocks, and for now that general direction is up (a possible gold pull-back next week notwithstanding). NEM looks primed for a run. It is insurance now, on both stocks and bonds.

But, when stocks get sold, I suspect the insurance will get sold, too, and hard. Still think the patient person will buy gold stocks at a discount to today's price in late Oct/early Nov.

Regards,

crusty
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