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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: bcrafty who wrote (64194)	7/26/2002 10:38:05 AM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 100058

Bcrafty, finally threw the towel 15/20 min. ago and got my confirms. Am out completely: - broad market selloff has not ended yet, gold shares also are shares - miners failed to stop at (even bearish) supports - looking at 3 yrs chart of gold, prices of the metal still can take another 10% hit and still be in a long-term (higher lows) trend - Tuesday action can be also attributed to the bullion banks selling, for a third time after gold hits 325-330. - if this broad market move is the move I think: lack of confidence, margins calls, leading to further distrust and other sales, all values will be hit, including precious metals and houses. Precious metals are only precious if they are transformed: they currently only are commodities as any other. I also have a track of record to throw the towel exactly on a market rebound. That is why I waited so long for an hypothetical rebound. By this, confirming this could have been the bottom for the PMs <ng>