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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (19671)	3/21/2000 10:04:00 PM
From: pater tenebrarum	Respond to of 42523

Joan, if we're lucky we have already put in the intermediate term low i was looking for. originally i thought it might be in the 270's, and that may still happen, but time segment analysis and the BoE auction had pegged TODAY as the ideal point in time for the low to be made. i actually think it could turn out to be an important low in hindsight... note that a very funny thing happened yesterday: Goldman Sachs downgraded a bunch of gold stocks, and they went up in response. likewise today, the BoE auction was far less well received than i had originally thought it would be, and yet, after making an intraday low no followthrough selling in gold materialized. so my gut says we're going higher...and i think there's a very high probability that this time it will be for real, i.e. more than just a panicky spurt due to short covering. in fact i believe that the spike rallies we have seen so far support the contention that the market is heavily, and overly short and i think that the failure to extend these spike rallies has made the shorts way too confident regarding their control over the situation. next time we approach resistance from below, we'll just gap over it imo.