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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Ahda who wrote (20720)	10/5/1998 4:14:00 PM
From: Jim McMannis	Read Replies (1) of 116830

Darleen, I sold half of my gold stock positions today. Why? Basically... 1. kissing swan formation from "near" intermediate term overbought conditions. Not quite overbought but too close to be greedy. Several other of my indicators were as about "as good as it gets" zones. 2. Despite another banner day for bonds, the XAU showed a 2 day reversal pattern. Indication that the bond rally as fuel for rally in the XAU is petering out. 3. With the DOW down over 200 the XAU failed to rally, taking some steam out of the "gold as a flight to quality scenario" for now. 4. I actually had a pretty decent profit and will now trade even more often. --- Actually it's the regular markets time to rally a little. Regards, Jim

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