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

To: yard_man who wrote (10450)	7/1/2001 6:31:23 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 52237

Gold price comment As I suspected, Gold's next leg is down. Message 15951049 It took it's time making higher lows with lots of overlaps, but eventually, minutes BEFORE the FOMC announcement, it broke lower. Looks to me the target for this move is below the 265 local low from 5/30 but higher then the 255 local low from 4/2. 260-262 is my guess. Dollar index jumped on Thursday to what could be a double top marking the end of strong Dollar era. But it still remains to be seen. Anything under 117.8 would confirm the double top. Lower interest rates on the Dollar and the higher lease rates on gold also makes shorting Gold for the LT much riskier then before. Hedge funds that liked shorting it when interest worked in their favor should be trying to cover. I guess many of them covered already, but I also guess many of them are still at work and this is why POG will is unlikely to make a new low. I also guess that producers used the last spike to future sell some of their reserves. This means that the next leg up will find less price sensitive resistance. IMO low 260s is a good place to enter long position, but keep one eye on the Dollar. ATG