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Strategies & Market Trends : Natural Resource Stocks
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To: Little Joe who wrote (14026)7/29/2004 6:45:10 PM
From: ItsAllCyclical  Read Replies (1) of 108599
 
Agree that a good bottom is possible here especially if the Dollar index takes out 88.5 again or the Euro goes back over 122 (ish), however, jobs numbers next week friday will likely dictate the action for the next month. Previously, the way the markets were reacting I would have expected a bad jobs number to be good for gold, but currently I think we need something in the middle. Shy of expectations, but not too bad that the markets sell everything for liquidity again. If the Naz and S&P don't at least trade sideways ST then I think gold shares will be hard pressed to advance much. If the jobs number comes in above expectations and they revise up the previous month you can kiss gold goodbye for a spell. I will likely be raising cash quite a bit prior to next friday.
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