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

To: Crimson Ghost who wrote (39664)	8/27/1999 12:38:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116815

George, I'm glad to see that you took a step up to the plate today and decided to take a full swing at the gold ball. The XAU doesn't usually give you a clear signal on a silver platter, but today's snapback above the 200 day moving average looks very promising. It's put up or shut up time for the XAU Now. I expect to see strong follow through tomorrow. We need to close above the red line tomorrow: decisionpoint.com I think the rally here will surprise many people. Not only do I see the gap from May 7 getting filled, but I think the XAU has a good chance of breaking the October 98 high. We are close to a very bullish technical crossover of the 50 day moving average in relation to the 200 day moving average on the XAU. If and when this occurs, a technical buy signal on the XAU will get issued. All the technical trader types and the momentum boys will then buy the gold stocks in the XAU. And if this crossover takes place at about the time the S@P closes below 1280, I see an even greater flood of money coming into the gold stocks in the XAU. It should get real interesting as we move towards the next BOE auction on the 21st of September. I see the S@P retreating here to the 1216-1225 level before we get another Bear Market Rally. This is no correction. We are in a Bear Market. I do not expect an October rally to new highs before the millenium. Instead, I see a vicious third leg down, induced by a Y2K panic. It will become very difficult for Greenspan to raise rates again in this environment. He may have no other choice but to ease. I think the so called Messiah of the Financial World made two very big mistakes in raising rates.