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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Bill Murphy who wrote (4602)3/20/1999 10:50:00 AM
From: Crimson Ghost  Read Replies (2) of 81093
 
Bill:

I disagree with Charles Peabody's prediction of an imminent market crash, but I do feel the market is topping out and we will soon be in a major bear. Bear markets generally start out out as a rather mild decline that gathers momentum as we head lower. My take is that the Dow will be down to the 9000 area by summer and 7000 or so by fall.

Under these conditions another gold run at $300 is highly probable by fall, even if IMF sarts selling. That should push the XAU towards 75-80. Could do much better, but a sustained move above $300 will only occur if gold demand surges sufficiently to swamp the not inconsiderable resources of the "goon squad" -- Wall street, the bullion banks, the IMF, and the western CBs.
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