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To: robnhood who wrote (37877)	6/5/2000 12:42:00 PM
From: pater tenebrarum	Respond to of 42523

yep...strange, eh? normally i'd call that indicative of distribution, and there are other signs confirming this (money flow data and tick/trin readings)...BUT i'm not so sure if this rally hasn't more legs than we currently suspect...perhaps a bit of a pullback this week, and then another leg up after easy Al does nothing in June... i know some expect PPI/CPI to potentially upset the market...but these are BLS stats. my guess is they will be doctored with 'seasonal adjustments' to come in right with expectations... the true test for any gold rally comes in the area from 295 - 330. this is the area where all the calls sit and where lots of gold loans were entered into. it's the price level which the manips don't want to see breached and where they pile on their shorts. if it can surmount this area convincingly, the carry trade will blow up imo, with a quick run to much higher levels possible.