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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (7355)	5/11/2001 12:27:36 AM
From: Eurobum1	Read Replies (1) \| Respond to of 52237

Chris...I don't know if you're already read this... hahnscorner.com Updated: Wednesday, May 9, 2001 9:47 PM Market Commentary The Quixotic Precious Metal Gold and gold stocks had one of their best days in many months. After the good moves in gold and energy today, I don't have to be apologetic about promoting investment in those areas. For longer term readers of this website, you'll remember how much coverage I've given the potentially explosive situation in gold. Two major events are converging: There is a very large short position in gold, which has been encouraged by the world's central banks. Since January 3, Greenspan has been pumping up the money supply in an effort to avert a more severe stock market correction. The inflationary effects of Greenspan's activity has the potential to trigger a major short covering event in gold. The gold derivative positions held by the major money center banks has the potential to explode into a major financial crisis. Because of the dimensions of the problem, it's likely the central banks will do everything they can to extinguish the fire. One of the most responsible things would be to withdraw excess liquidity from the economy. Of course, that would cause a stock market plunge, which is what they were trying to prevent in the first place. Greenspan's in treacherous waters today. The timing of today's advance in gold stocks is extremely interesting because it comes one day ahead of an important meeting in South Africa. The purpose of the meeting is to expose gold manipulation activities conducted by the world's central banks and intended to suppress the price of gold. Allegedly, the central banks have utilized their inventories of gold to secretly alter currency and equity markets. I didn't put too much importance on this meeting, until I saw the dramatic action in the $XAU today. If you would like to learn more about the May 10 meeting in South Africa, the free link is zealllc.com