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

To: long-gone who wrote (48161)	2/5/2000 11:06:00 PM
From: Little Joe	Read Replies (2) \| Respond to of 116900

To all on thread: It is a puzzle. Will gold do another elfoldo or is the bottom finally in. Here is a summary of the comments of JOHN MURPHY, as posted on his web site this weekend. www.murphymorris.com To access this information you must be a paying subscriber. He notes the increase in the price of gold and points out that the October January pullback from 340 to 280 is a 62% retracement of its September advance from 240 to 340. Also the January trough is higher than the summer trough. He feels October highs need to be taken out and will be the first major test. He then points out the tremendous surge in commodity prices noting that over the last year Goldman Sachs Commodity Index is up 59%. ( of course we all know there is no inflation) he also points out that platinum broke out to a ten year high on Friday. He feels that if commodity prices have "truly bottomed out ... it's just a matter of time before precious metals join in. John Murphy is, in my opinion, the best of the well known market technicians and he has made many great calls. However the tone of his comments on gold are somewhat cautious and my interpretation is that he is watching gold closely and if it acts right he will become bullish. Live long and prosper, Little joe