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

To: SOROS who wrote (4330)	8/12/2002 11:02:30 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

Droke on gold: Dueling forces (gold vs bonds) clifdroke.com an excerpt: Only one side will win, and the winner will likely be apparent by the end of this week. For the bulls to win, December gold must close above $320, which would in effect puncture the dome. Whenever domes of this magnitude are broken it nearly always leads to a runaway upside run. In gold's present case, breaking the dome above $320 would almost certainly lead to a test of the recent highs around $330. In order for the bears to win, gold must reverse this week and burst through the rim of the parabolic bowl in the daily chart. When bowls are broken, it nearly always leads to a major decline. In fact, if gold closes below $310 this week, that would be a preliminary signal that a test of $300 is almost certain to follow since this would be a sign of great weakness since $310 is an extremely important chart support and a pivotal point. / jim