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To: NickSE who wrote (50808)	7/6/1999 9:56:00 PM
From: coug	Respond to of 86076

MadDog, I've wondered for some time why students of the market, technicians, economists, etc. do not spend their time looking for signals of turns in the market and individual issues, rather than always trying to predict the future by indicators that have worked in the past but will probably not in the future because the market being a dynamic entity, will always change.. Maybe the Eliot wave, will have 9 up and 5 down.. as there will be changes in the PEs, the put/call ratios, etc. Whats the equivalent of gold going to 800.00 on the Dow, pretty high for 1979, or hogs to under a dime this year, pretty low.. all these related to historical averages.. I say the markets are like the weather, everything is NORMAL.. When a weather person says something is above normal, I cringe.. they mean average.. and AVERAGE and NORMAL live in different galaxies... good luck all and BTW, my 30 and 60' indicators are not a sell YET. close but not there. Coug

To: NickSE who wrote (50808)	7/6/1999 11:07:00 PM
From: NickSE	Read Replies (2) \| Respond to of 86076

....MARKET REPORT (7/6/99): In one of the strangest market reactions I have seen in my 26 years in the gold business, gold took a hit today after the Bank of England auction was oversubscribed 5.2 times and Japanese banks refused to buy U.S. Treasuries because of impending potential Y2K problems. Now normally those of us of sound mind and temperament -- possessed of a rational approach to life -- would have been led to believe that two such seminal events would turn the market decidedly higher, but not in this topsy-turvy world of Alice-in-Wonderland finance. Instead we are led to believe that this extraodinary demand for gold is a bearish development destined to drive the gold market lower.... usagold.com