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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (16969)	6/11/1999 9:48:00 PM
From: bobby beara	Respond to of 99985

Hutch, gold is extended below it's moving averages to the point where rallies have come in the past, however, I'm not so sure we haven't got a major turning point here and nobody is expecting it. The XAU (smart money leveraging the price of gold) has not confirmed these new lows in the POG. The momentum thrust was into 12/97 since then the following declines have not been confirmed by numerous a/d and momentum oscilators (in the XAU) James Dines the internet/gold bug was commenting on the big crowds at the recent April internet analysts conference and the thin group at the latest gold conference at New York. bb