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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (38378)	8/5/1999 9:24:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116752

If S@P 1280 doesn't hold, watch out below: This is It! Morning Market SnapShot for Thursday, August 05, 1999 1280 on the S&P 500 Index is the line drawn in the sand. It is the last swing low on the weekly chart. A decisive break of this low will trigger the “crash” scenarios we outlined in the July 30 column where we compared the present situation in the S&P to that of 1973, 1987 and to a lesser extent, 1998. When we say “crash”, we are not trying to ring the bell and say this is all that there will ever be, as most perma-bears have done for a number of years. We are traders, and as such, a crash means a serious pull back in the long running secular bull market since 1982. Yes, someday it will all end. It might be in a decade. It might be next Monday. The fact is that no one can predict the exact day, for when it looks the best, the market is always at its worse and vice versa. At the bottom in 1982, no one thought the market would ever get better and at the top in 1999, no one believed it would ever end. The bottom line is that the unexpected always happens and it always happens much too soon.... intelligentspeculator.com

To: long-gone who wrote (38378)	8/6/1999 1:37:00 AM
From: Greg Ford	Read Replies (1) \| Respond to of 116752

Richard, I had to search back to my message on May 13th regarding J Aron to see what you were referring to. Clearly when I wrote my comment lease rates were still low. It is only in the recent several weeks that lease rates have risen. I believe that they have risen due to increases in producer hedging and possibly increases in short positions by hedge funds and speculators on Comex. In addition the recent increase in lease rates may reflect central banks withdrawing gold from the market prior to year end, that is Y2K fears. Greg