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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Larry S. who wrote (188)5/24/1998 3:35:00 PM
From: Dan P  Read Replies (1) of 972
 
Larry:

Typically the summer doldrums beset the gold market around about now,
and we may see the same. I would like to see more technical confir-
mation that gold (and or majors, and the XAU) are in a definite
uptrend. The recent action has weakened the picture considerably,
although I am not ready to throw the towel in just yet. I am out
of the gold funds at this point, and I wonder whether the best
opportunity will be to short the S & P or the Dow, in the near term.
I am thinking in terms of the weakening technical picture of the
major indices, as well as the weak Investor's Business Daily
Mutual fund Index. I am basically a trend follower, so I won't do it
without confirmation.

The action of selected junior producers has been impressive,
such as St. Jude, and others (golden eagle, which Richard follows)
of late, and I am encouraged by that. We may be slowly getting away
from the Bre-x effect.

Regards

Dan
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