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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Daveyk who wrote (7872)	5/23/2001 2:00:38 PM
From: Shack	Read Replies (1) \| Respond to of 19219

I agree 100% Dave, I posted yesterday that a good entry point is XAU 57-58, not touching it until then. Not good that CNBC is yapping gold now too.

To: Daveyk who wrote (7872)	5/23/2001 2:29:38 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

MITA has been Bullish gold/gold stocks since september after the aussie gold index bottomed in august 2000 and the XAU was testing XAU 48.50 lows. It eventually went on to lower lows to XAU 41.85 on November 17 on a v-type bottom finding higher support at XAU 44-45 area. Johannesburg all gold index bottomed in late November to confirm the XAU bottom. Gold/XAU/Gold Stocks is in the 2nd inning of a nine inning baseball game in a BULL market. It is quite conceivable for XAU to pull back to 57-58 and fill that first gap at 58.57-59.64. In fact, I hope that friggin gap gets filled tomorrow. If it does, I will back up the truck and load up on gold stocks all over again. And reposition back into Rydex XAU Precious Metals Fund. Best Regards, J.T.