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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)

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To: Larry S. who wrote (166)5/3/1998 12:23:00 PM
From: Richard Mazzarella  Read Replies (2) of 972
 
Larry, thanks for posting the Barron's index. The technicals (gold forecaster) for the XAU are very poor right now. Both short and intermediate term XAU is a sell and the long term shows that the highest it may get to is 90 XAU and that number goes down every trading day. To get metals to move again may require something fundamental, out of the blue, that moves money to metals. I see people are again calling for Japan to collapse, bank officials are hanging themselves, etc.. If the Euro calls for a high position in gold, that could do it also. I have the S&P short, again working against the stock market forecaster and getting my clock cleaned. I still believe that this market could crash any day, but will bail from Ursa if I continue to get hammered this week.
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