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

To: Mike Hermann who wrote (21641)	7/31/1999 1:06:00 AM
From: pater tenebrarum	Respond to of 99985

Mike, i agree there has been some accumulation of gold mining shares. this is simply proven by the fact that the XAU has not made a new low, while the price of gold has. and as you say it may well be the so-called 'smart money' based on the fact that it tends to buy low and sell high. even though these investments have been dead money for a while, the pay-off is ultimately likely to be big if one doesn't overstay one's welcome. regards and good night and a great weekend to all, hb