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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: dwight vickers who wrote (28377)	2/16/1999 11:37:00 AM
From: long-gone	Read Replies (1) of 116762

What I really suspect is that as all major markets sold off hard (and some money may have sat in silver & gold over the long weekend) mutual funds wanted to put money back to work this morning, cash had to come from somewhere. Now most are thinking Dell will "make numbers" & this is bullish so they are buying Techs today, but problem is that with cash levels very low had to raise cash somewhere and had to sell weekend bullion holdings to make the buys today so they can sell tomorrow. note cash levels. cairns.net.au A/D shows more health today = 17 for every 10. but this thing with cash level is a worry for the broad market. Just gotta have money to buy stocks & with all the recent lay-offs from big firms bet it is cutting into new money flow, for the time being at least. Remember it takes at least 3 months before people can start a 401K at a new company for some it is 6 months.

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