International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Richard Mazzarella who wrote (1326)	1/11/1997 3:39:00 PM
From: Bruce McGaughey	of 35569

Technically speaking (short-term), we appear to be on the right shoulder of a head-and-shoulders formation. The XAU has bounced nicely from an over-sold bottom but we'll probably re-visit the lows of before. Bottoms are nearly never "V"s. They're usually "W"s. It's thought the Fed. may raise rates early in Feb. We have to be mindful of the drag of the warrants in Jan and Feb. On the positive side: Gold shorts were HUGE at the lows. Short-covering may help the XAU a lot. Russia can't supply Japan's platinum. IPM is one hell of a story and should move on the platinum report and then BIG on the BD report, which I believe will happen in March after the Feb warrants are exercised and the money is in the till. But, as my good friend C.L. says: Forget all that crap.Just jump in now. In a year, you'll be rich !!!

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