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To: SliderOnTheBlack who wrote (83448)	1/4/2001 1:55:15 PM
From: MetalTrader	Respond to of 95453

The idea that there was dollar propping going on yesterday certainly is possible. I suspected that support was unneeded as the investment demand for $'s soared, but today inaction by the ecb makes me more apt to agree with you on stabilization. Not table pounding, red in the face, heart grabbing, shrieking agreeing. Just agreeing. By not lowering today, the ecb is announcing that the problem is essentially a U.S. one and not a global liquidity crisis. With a dollar continuing it's slide this year, gold will do fine as a hedge against the dollar ,but I do not see a global demand for gold, more a dismissal of the dollar. (crisis tends to show up in the middle of the night unexpectedly) Relative to GW viz the Peter Principal...I am afraid he's risen several steps above his level of incompetence. I was reading about Warren G Harding's presidency in my son's history book this week. The parallels to GW are uncanny and disconcerting, down to the Pittsburgh aluminum exec being named to be secretary of treasury. Hopefully his tenure does not follow the same path. I bailed on lucky long calls this afternoon...if this market can't follow through even one day, hope may dissolve. I still believe there will be some investment going into reasonable tech, but it's not happening in one day. Give us a naz to 3000 and I'll be rolling back into the SLB's and MRK's of the world. MT