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To: Crimson Ghost who wrote (126352)	10/2/2001 11:25:44 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

George, i also think that we'll see at least one more, if not two more, selling panics before the actual intermediate term low is put in. too many bulls hopping about...e.g., the AAII bullish consensus reached an 18 week high last week, the put volume indicators are on their strongest sell signal in several MONTHS, and the oversold conditions have certainly been relieved. i don't think however that the strength in the gold stocks is meaningful as a general market sentiment barometer. as i've frequently stated in the past, gold and the stock market are not necessarily exhibiting a negative correlation. whether that is the case or not depends on what the market fears and /or hopes for, iow, in what part of the K-wave cycle we're in. what it fears NOW is deflation, and therefore, a strong gold rally would probably be the prelude to a recovery of the broad stock market. the theme du jour is reflation, and whether it will be successful or not. so far it hasn't been, but if the PoG were to vault to say 350 or higher, we'd have to assume that it is at least temporarily succeeding.