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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Richard Mazzarella who wrote (11404)	5/7/1998 10:14:00 PM
From: bobby beara	Read Replies (3) of 116759

RM, makes this gold bug mucho happy, buying opportunity. From some further charting I've done, I believe the bottom will be at XAU 79, and you should go long and strong when it hits 79, with both fists. That point also happens to be the mid bollinger line on the long term chart. While the XAU may seem to be sagging badly, ABX the market leader is holding its uptrend line and as long as it stays above 20 3/16 it will. I would even allow for a slight breach of trendline on this bottom to 20 as a throwover. I believe we will stay in this wide trading range into mid/late June before we get the blow-up that I've been talking about. I have some revised charts that I'm working on that I will post tomorrow. cheers, bb

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