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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (581)	6/23/2002 10:24:01 PM
From: t2	Read Replies (1) \| Respond to of 89467

I see a H&S bear pattern forming on the dollar its peak was 120 back in Nov-Dec 2001 its neckline could be 108-109 here, now target over next several months: 95-96 if this happens, gold will explode north of #450 120 is not that high if one considers the dollar was a bubble; so much of the world's reserves (75% or so in some article). Trade deficit etc.. The analogy would be the Nasdaq in the 4000 to 5000 range, imho. We could see 95/96 by year end or earlier. That bearishness on the dollar may not be contrarian at all, thus, leading to a more intense decline...just like the Nasdaq melt-ups of the late 1990s..everyone was bullish and the market surged. Got another question for you. What happens to gold stocks if the markets suffer some sort of crash as a result of more intense foreign selling of US large caps (we are in that process now it seems). Could gold stocks be spared? Any sort of historical guide on what happens to metal stocks in such an environment? thanks.