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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: yard_man who wrote (536)8/7/1998 11:02:00 AM
From: PAUL ROBERTSON  Read Replies (1) of 81101
 
Hello All,

Hang Seng broke down,chart wise,big time last night.This is why yen and gold weak this morn.Bank of Canada raised rates this am in support of dollar even with unemployment up.With a potential devaluation in the cards for Hong Kong dollar,certainly the Chinese will not be far behind.Expanding deflation looks like a reality.If gold drifts toward $270 level,bounces and then cracks,we are likely going to be looking at,at least $100 lower.In technicals,the longer a long standing support zone holds with less energy on the rebounds,the further and harder the fall.Cdn dollar is a perfect example of such a formation.Keeping in mind that the break down points are more often than not retested or revisited before the real damage is done.Therefore,the Cdn should,just by means of probabilty,revisit .67-.68 cents before continuing south to below .50 cents.
People I know are calling me crazy but chart formations do not lie.Combined with cyclical study,they are potent.
Good Luck,

Paul
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