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

To: Amelia Carhartt who wrote (17987)	6/20/1999 9:01:00 PM
From: donald sew	Respond to of 99985

Susan, Surprisingly, my short-term technicals for the XAU are smack in the middle, so for now now firm direction. It appears that it is forming a base now in the 60 range. No firm hints yets as to when it will move. seeya

To: Amelia Carhartt who wrote (17987)	6/20/1999 9:44:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

MSB, re: XAU, it is possible that the chart formation on the XAU is a bearish flag. if it breaks to the downside below it's most recent lows i would expect it to at least revisit it's lows in the high 40's. there is however an interesting divergence between the XAU and the price of gold, with the latter collapsing to new lows and the former holding up relatively well. perhaps this is a sign that gold will soon turn around; in any case i am long a few gold shares because of this divergence. i hold them in the longer term orientated part of my portfolio as a hedge against financial accidents and because they got so cheap i couldn't resist. if the XAU starts to follow the price of gold i will either hedge them or sell and wait for even cheaper prices to get back in. regards, hb