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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (51325)	5/19/2000 7:13:00 PM
From: Crimson Ghost	Respond to of 99985

Heinz: I have just accepted a free 45 day internet subscription to the BANK CREDIT ANALYST. This investment advisory group has been around a long time and has an excellent record. The last time I saw their research was in 1996 and they were bearish on gold then. And they are still fundamenatally bearish although they do allow for the possibility of more brief sharp rallies like last fall. (Part II) Gold Prices: New Lows Ahead? (Wed May 03 14:19 2000) Market sentiment towards gold has soured anew in recent weeks, in line with the erosion in prices. Contrarians claim that a strong rally likely looms since pessimism prevails. However, the percentage of bullish advisors (a measure of gold sentiment) has fluctuated in different ranges during recent years, hovering in the 60% range in 1993-96 and around 30% since 1997. Therefore, it is not clear that a true capitulation has occurred, based on this indicator. Perhaps, a final bout of extreme pessimism (a sub-20% reading) will be needed before a durable rally develops. Meanwhile, the longer-term outlook remains unattractive, as discussed in the previous Insight. They view bonds and cash as much superior to gold as a safe haven. If you E-mail me privately I will tell you how to subscribe for free.