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


To: orkrious who wrote (2262)7/16/2002 8:24:18 AM
From: stockman_scott  Read Replies (1) | Respond to of 89467
 
The Bears Still Look Hungry

thestreet.com



To: orkrious who wrote (2262)7/16/2002 9:02:12 AM
From: Jim Willie CB  Respond to of 89467
 
pulse: gold #318.9, dollar 104.15 (breaking down) >>>>>

yes, I expect stocks to be in a tizzy until the US$ hits the next coffeeshop below 105.5, which is 100 (weak support) and 97 (stronger support)

until then expect more breathtaking declines
more PPT rescues (which only encourage more fresh infusions to be lost)
more upward thrusts in gold

gold hit #320 overnight
curiously it did so when Europe opened
yesterday is now reported as another PlungeTeam day
only forestalls the capitulation once more
PPT alleviates panic, but does not prevent bear markets
/ jim