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Gold/Mining/Energy : PHILADELPHIA GOLD AND SILVER INDEX: XAU
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To: Bobby Yellin who wrote (7)11/17/1996 9:07:00 AM
From: Dan P   of 28
 
Bobby and All:

On the weekly chart, the XAU is still on a buy, and there appears to be
no evidence yet, that this is a fake-out rally. A few stocks, like
PDG have actually broken out from their base, and I think that the
gold stocks will follow the oils, which as everyone knows, have been
very strong. It is very rare indeed that a bull market in oil & gas
related investments is NOT accompanied by a Bull market in the major
precious metals shares.

Regards

Dan
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