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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Zardoz who wrote (15088)	7/31/1998 9:53:00 PM
From: Crimson Ghost	Read Replies (2) of 116758

Hutch: I agree with Bobby Beara that we are close to a capitulation bottom for POG and XAU. I do expect marginal new lows for both followed by a huge rally. Capitulation trough requires huge volume in XAU components. Have not seen this yet, but we will soon. BTW, there is no way we will have a continued bull in the dollar if stocks tank. Foreigners have invested huge sums in our stock market. This money will flow back where it came from in a massive torrent once the owners are convinced the US stock bull is over. That is why I expect gold to trough far earlier than the stock market.

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