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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.29

-0.9%

4:00 PM EST

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To: Rarebird who wrote (27206)	1/28/1999 11:05:00 AM
From: long-gone	Read Replies (1) of 116790

<<Gold is a crisis hedge: Nothing more nor less. The Manipulation can only succeed if Market forces are positive for financial instruments. I think we are very close to the end of the line in regard to this exuberance and outright insanity. No One can persuade me that these valuations can hold for very long at these levels: Not with the A/D line flashing a sell signal! >> At some point(in the not to far distant future - 2004?), jewelry demand alone will drive up POG. Your point about the A/D line is correct, the market is becoming more and more narrow. At this point, to gain an assured advancement, one must be invested in technology or drugs and those valuations are streached...imho. I do not expect an immediate gold rally on the decline of the Broad Market. In history, it has taken between days and months.When gold breaks 308, it may continue to the sky, or may get slowed around $450 by fed/cb actions. We could have a near solid run in POG from June through December. after that???????????? If it does not happen by Aug or Sep I'm worried.

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