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To: E. Graphs who wrote (3296)3/29/2001 8:50:56 AM
From: Logain Ablar  Read Replies (1) | Respond to of 4564
 
Hi E:

I can't post the newsletter here but for comments I will and due to time constraints on my end I haven't posted all his news letters.

Hays didn't call a bottom just that when the ARM's index signal from a two weeks ago this Friday (tomorrow) there has been a bottom within 4 to 20 trading days. On last Thursday he said it could be the bottom BUT it needs to be confirmed. He uses O'Neil's confirmation of a strong confrimation day in days 4 to 10 from last thursday where there is over a 1% move on heavy volume (buying).

So we are not there yet.

Tim



To: E. Graphs who wrote (3296)3/29/2001 4:21:12 PM
From: Wolf 2  Read Replies (1) | Respond to of 4564
 
E!:

Come to think of it, why haven't you said anything about gold? <g>

Curses! Foiled Again!!!...I was hoping, obviously in vain, that you wouldn't ask me that<g>.

While I don't see any downside from current levels, I can't see a lot of upside either except as a result of a flight to what some may see as a refuge from a severe recession. Certainly, anything that at least holds its value in the midst of a large correction, is not to be dismissed. In my case, the oils are filling that role in addition to providing decent income so unless and until that sector turns down, I won't be buying precious metals any time soon.

In the mid '70s, I had a lot of fun buying and selling the actual physical commodity (no cap gains tax at that time if a bar of gold was the transaction medium) but those days are long gone....Memories...

Regards,
Wolf