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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: bill who wrote (32617)	4/27/1999 3:24:00 PM
From: sea_urchin	Read Replies (1) of 116756

bill : Bear with me Why does the chicken cross the road --- because it wants to. Why does a chicken, without a head, cross the road --- because some technician says it will. And, if you don't believe me, I'll bet you it does. Ha! Why does the XAU go up, when POG goes down --- because some technical indicators are turning up iqc.com Look at the stochastics. Yes, going up Now look at the gold price chart digisys.net Stochastics also turning up. Now you know the news before it's happened. Has nothing to do with economics. Prices are driven by screen jockeys and how much they want to bet. If XAU gets through 70 it's likely to go up a lot further because there's a nice consolidation pattern happening. Also penetration of 200 day EMA and resistance line. So, let's push it and see what happens. Don't forget there is a veritable army of economics journalists and other experts who are ready, willing and able to give whatever explanation suits the event. Ad hoc, ergo propter hoc! A few days ago I asked Hutch "If he didn't know it was the XAU wouldn't he say the chart would go up 20 points?" That's the point. Because it was the XAU, even experts are bearish. The mention of the word "gold" can cause some people to shiver.

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