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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.35

+0.4%

Nov 6 4:00 PM EST

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To: PaulM who wrote (7360)	2/8/1998 10:35:00 AM
From: bobby beara	Read Replies (1) of 116753

Right, people are discounting Buffet, and shorting the silver market and calling Buffett's play a "gambit". I don't think sooooo. I could be wrong, but I wouldn't go against Buffet, because he has always dined (this time Dines-g-) on those that bet against him. Here is some charting evidence that gold has bottomed. tfc-charts.w2d.com Notice the heavy volume into the panic capitulation phase of late November/early December. Notice that the volume on the next dip, has completely dried up, now notice how the volume during this consolidation phase has dried up. So since December the sell-offs/consolidation phase has been met with very weak volume, while the buyins have been on heavy volume. Also the 50edma on XAU bottomed on Jan 23 and has turned up and if the trend continues up the 20 will cross the 50 in short order and the shorts will be the gold bulls dining order -g- bwdik

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