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To: Rarebird who wrote (39782)8/30/1999 7:10:00 PM
From: goldsheet  Respond to of 116972
 
< Looks like we might be getting that final shakeout in gold stocks I have warned about.>

> What type of a final shakeout in gold stocks are you talking about?

George has been pretty consistent with his comments. We have had about 4 or 5 false rallies over the last year, where we can't stay above XAU70 resistance nor break below XAU60 support. There are still a few more gold investors that need to completely loose confidence and "throw in the towel" before we can expect to rally.



To: Rarebird who wrote (39782)8/30/1999 7:26:00 PM
From: Crimson Ghost  Respond to of 116972
 
Rarebird:

When I speak of final shakeout I am talking about a drop to XAU 60 or so. Nothing dramatic but still painful for the longs. But after that XAU 80-85 by year-end.

We will know this gold bear is dead and buried when gold can rally convincingly on good news. Today certainly did not make the grade with POG up a pathetic 30 cents on a day when stocks, bonds, and the dollar all got hit hard.


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