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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (94735)	7/15/2002 3:47:03 PM
From: sylvester80	Respond to of 99280

The buck staying down is bullish for US stocks. Look at gold.

To: Crimson Ghost who wrote (94735)	7/15/2002 4:37:53 PM
From: JRI	Read Replies (1) \| Respond to of 99280

George..your thoughts about today...you don't sound totally convinced..

To: Crimson Ghost who wrote (94735)	7/15/2002 4:53:04 PM
From: Ken Reidy	Read Replies (4) \| Respond to of 99280

George..I am a lurker who regularly reads your posts. I would appreciated your opinion of what happened today as I am struggling to understand it. I am looking at it from gold mining share investors point of view. Today...spot gold moved up over $4 an ounce while the dollar fell sharply. The stock markets were crushed...all in all one would think that gold mining shares would be strong. They gapped up and then sold off for most of the day to close at or near their lows. In my opinion, there was only one explanation for their weakness earlier today...all stocks were being sold because people wanted out of stocks in general...even Gold stocks. I could accept this until the market turned on a dime. If gold stocks sold off in tandem with other stocks, they should have rallied with them also. Today's action made no sense, unless you believe in market manipulation. I have been trying real hard to not focus on the potential market manipulation as I have no way of knowing whether these theories are true or not. They sure seem true tonight. It is possible that the XAU is weak here because the manipulation is forcing gold investors to lose their resolve. When all the fundamentals for gold line up better than you could ever dream of and nothing happens...it is pretty disheartening. Where did the buying come from to drive the Markets up so historically sharply at the end of the day? One would think that the dollar would have rallied sharply along with the markets if this was legitimate. It sure looks manipulated to me and if it was....somebody is desperate and that is scary. I hope I am wrong. I hope somebody can offer a logical explanation. If somebody says "short covering"...please explain why somebody would cover right when it looked like the markets were melting down. Foreign capital is likely leaving our country in droves right now with the dollars weakness. That loss of capital far outweighs any pricing benefits our multinational companies will gain. Our nation needs the liquidity the foreign capital provides us...we need it badly. Why would shorts cover this dramatically in this environment? The situation could not look better for them than it did several hours ago when the market turned. Today may have been the final straw for me as an investor. If the markets are manipulated...why invest in them?