Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Rarebird who wrote (63915)	2/17/2001 8:35:51 PM
From: baystock	Read Replies (1) \| Respond to of 116762

...from the latest Prechter newsletter via Club EWI. "It is time to begin thinking differently about the precious metals. For those 21 years, we saw each intermediate term rally in gold and silver as a short selling opportunity. Now it is time to begin thinking about how and when to buy." "My two best long-term targets for gold are still below $200/oz., so the intent of this report is not to issue a “buy signal.” It’s to get you mentally on the side of what has finally become a distinct minority. Figure 2 shows a close-up of wave Y. As I see it, this wave is incomplete and requires wave C down. The only question is whether wave B of Y is over. If it is over, then gold is already in its final washout. If it is not over, then gold will soon embark on a $100 rally to about $360 before wave C begins. The dashed lines on Figure 2 show these two scenarios." "If I don’t think the bear market is over, why bring up the subject? The answer is that market psychology toward gold and silver reflects so much complacent pessimism, even aggressive pessimism, that anyone who knows markets cannot ignore it. It alone justifies beginning to pay attention to, if not accumulate, gold and silver. Remember in the late 1990s when stock mania enthusiasts shouted, “Cash is trash”? It would have been a good time to cash in their “hot stocks.” Today, if there is a consensus anywhere, it is that gold and silver are trash. This means we are getting close to the final bottom."