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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Crimson Ghost who wrote (13019)	6/12/1998 10:12:00 PM
From: bobby beara	Read Replies (1) of 116789

George, today may have been a reversal day for the XAU and the greater markets. I'm seeing a lot of similarities to today and January 12th, including the sentiment. I believe the Euro 10-15% news and the Japan GDP report caused a capitulation sell-off in the XAU and the greater markets bringing us to a bottom of a bear trough and very oversold condition. I feel more strongly about the SPX reversal since we closed above yesterdays close, though I wouldn't be surprised to see the XAU run in the next couple of weeks. The Nikkei chart continues to follow gold closely. I think Rubin will do what ever he can do to keep Japan afloat. bwdik, bb

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