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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (2594)12/13/1998 7:25:00 AM
From: Bill Murphy  Read Replies (1) of 81058
 
Searle,
As a technician myself, I appreciate where you are coming from and it is very sound analysis that could be right on target. Unfortunately, the goon squad, Fed led gold cappers have made a mockery of technical analysis recently. Every time gold is poised to move higher, they kill it. Since they cannot follow through on the downside( only so much they can sell ), gold does not collapse as the Asian official sector steps up to the plate. I would not be surprised if the Fed led forces are the buyers from spec sellers as gold starts to break down. That way they have ammo to sell when gold rises again.
Maybe this time will be different and your analysis will be the correct one as gold really dive bombs. I think we go right back up again. The whoop - whack - drift back up pattern continues as the beat goes on. My feelings anyway.

Bill
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