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Non-Tech : Invest / LTD
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To: NucTrader who wrote (5835)12/6/1998 10:53:00 PM
From: Lucretius  Read Replies (2) of 14427
 
Looks like the golds want to move a little lower. I may buy some call LEAPS, but I have enough stock. However, I don't think they will stay at those levels very long (many showing potential double bottoms and reverse H&S patterns). Dollar is bouncing tonight so it will likely head up in the morning (that means the stock mkt blasts off of course!), could put additional pressure on gold, BUT the dollar's days are numbered. After this corrective bounce that could last anywhere from a day to a week, there's nothing to hold it up till the old lows. Have a look at a chart of NKE. I've said how it leads the mkt and the dollar. Note that it completed a H&S on this bounce and bombed last week. The mkt is close to completing its H&S also, as is the dollar.... then it is off to NKEtown. Let's keep an eye on NKE over the next few days to see what lies ahead after this intial fall.

-Lucretius
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