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To: isopatch who wrote (74197)9/22/2000 10:24:10 AM
From: ItsAllCyclical  Read Replies (2) | Respond to of 95453
 
Given the news about the Euro and the dollar I'm surprised gold isn't doing better. Do this simply show bearishness on gold or lack of confidence that they'll be successful in propping up the Euro? I guess no one can predict when it'll take off, but the action last night puts in a floor at the very least. I added to my gold positions today now that one last capitulation in gold seems unlikely.

Also bought my first GLBL. Ok 12 was good. 11 was tempting, but at 10 1/4 I'm sold. Will add at 9 and 8 if seen.

I think they will release some oil from the SPR though so I'm not doing any heavy buying in the OSX just yet.



To: isopatch who wrote (74197)9/22/2000 10:49:04 AM
From: The Ox  Respond to of 95453
 
I agree 95% that we won't get a crash or meltdown scenario from today's market environment. I do leave the 5% possibility and to completely discount a meltdown would be unwise. That said, I just don't think the fundamentals of the US economy, the world economy, etc have brought us to the brink of collapse. Slow bleed scenario is much higher probability but I still don't think that it's more than a 15-20% chance that we are facing a long term, multi-year bear market.


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