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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (20405)6/27/2002 9:02:26 PM
From: Hawkmoon  Respond to of 74559
 
Yeah... I'm finally starting to think about gold stocks.

But I'll wait until the XAU retraces back to around $60 or so:

bigcharts.marketwatch.com

This is also why I believe we're about to see a strong rally in the USD. The XAU is overbought and due for a needed correction, which counter-trends the oversold condition of the USD.

But that's not to say that gold has ended it's rally, but I'll want to see the XAU find and hold support at $60. Should it fail to find support there, then we're looking for $45-50 on the XAU.

bigcharts.marketwatch.com

Just my opinion...

Hawk