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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (7541)	11/20/2000 11:20:02 AM
From: chic_hearne	Respond to of 10876

I have the May 50 calls on the XAU (gold index). I didn't even know you could buy options on the index. May sounds good, that gives you some time. Notice that even today with the Naz well below 3K there's virtually no movement in the XAU. It's gonna take fear. Not sure what levels will strike fear. Maybe the Naz below 2K will do it.

To: Poet who wrote (7541)	11/20/2000 11:34:06 AM
From: Alidotr	Read Replies (2) \| Respond to of 10876

Poet, My charts are showing some basing on the XAU. A move to 41.00 would be a sell signal, but a move to 46 would be a buy. I do think that we will see some strength in gold before too long, though I am less inclined to think that it is due to an impending economic meltdown, but rather greater attractiveness in the jewelry market compared to platinum (which is comparatively expensive). I have been buying gold (mainly in coin form), but I am leaning toward the idea that gold is in a secular bear market.