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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Tom Byron who wrote (9708)	4/9/1998 9:28:00 PM
From: philv	Read Replies (2) of 116764

Tom & B.B. & other T/As: Can T/A really work for the XAU? Most people agree that gold price is "controlled" or at least strongly influenced by some powerful forces, and the XAU is simply a leveraged substitute for gold. Normal or natural forces are not at work, the POG seems to be at the whim of this C.B. or another, a Fed. Reserve announcement or EMU speculation, etc. Not what one would call a normal business cycle. How then can technical analysis of cycles be of value, when one cannot know what is in the minds of those who control the value of gold? I do not discount the value of charts, but would be interested in hearing your thoughts. T.I.A. Phil

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