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Gold/Mining/Energy : Gold Price Monitor

GDXJ 87.56

-4.9%

Nov 4 4:00 PM EST

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To: IngotWeTrust who wrote (98615)	9/29/2007 7:13:34 PM
From: Valuepro	Read Replies (2) of 116752

FWIW, a contrary view from a discussion with a friend. His thoughts, not mine. I'm not so clear. "1) All the indicators are pointing to a short term pullback... Longer term gold and silver ought to be going much higher. 2) The LCs are way, way net short gold. 3) Money flow into the ETFs has slowed. Technically just about everything is overbought. The dollar has broken down, but we (could see) CB intervention and rate cuts from the ECB and BOE. ...the world's other paper currencies (probably can not) withstand a much cheaper dollar for very long. So they'll have to intervene by selling their own currencies and buying dollars. The global markets are convinced that the US is headed for a recession, but the Big Markets are not reflecting that, in fact they are pointing to the opposite." As I said, FWIW. All interesting to contemplate. VP in AZ

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