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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (63418)	2/6/2001 9:50:53 AM
From: PAUL ROBERTSON	Respond to of 116756

not to mention that the overall weekly chart formation does not qualify as an inverse head and shoulders as the right shoulder has fallen below the left. i never, ever, have come across a doctor who calls any form of market well. As a matter of fact, they usually provide the kiss of death to any stock or commodity they tout. Lets hope this situation is different. Certainly the descending triangle or wedge pattern is golds best short term hope with a usual sharp bust up against the wedge or descending portion of the triangle. Probably the most important fundamental factor right now is the increase in short term lease rates. We had for a few days an inverted lease rate market which indicates that a tightness of mild short term proportions is occurring on the physical side. i don't think we go much lower from here as the fed will likely start to rely on the POG more as a deflationary indicator and would not want the physical market getting too illiquid. However, a nice flush after a peek above $300 would be welcomed. While we touch on technicals, the DX daily could involve a flag formation but it must continue to drop hard from here. Paul