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

To: abuelita who wrote (5193)	8/27/2002 3:41:48 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

pulse: gold #312.4, US$ 106.8, HUI 124.0, XAU 67.5 >>>>> gold was up sharply today, with a little slingshot effect from the fakeout distorted Durable Goods number, contradicted by the ConSUMO Confidence number the dollar is showing early signs now of a failed double top, with 109 in first week Augy, 108.5 last week, and a bit of a rollover now below the 20dayMA HUI got above the critical 120 resistance level hangdog XAU is struggling to get above an important 67-68 now imho a gold stealth rally has begun I believe such a great majority of people expected the gold price would retest 297, and golds would retest recent lows, that it didnt happen too many expected it on the other hand, many now believe S&P has recovered, beginning some perverse new uptrend, with the bottom having been seen time for a retest too many dont expect it wondering if/when the Inept Fed will offer a surprise rate cut they can act proactively with a preemptive cut that would be very smart and probably lead to a nice stock rally but I think the Inept Fed will behave reactively and offer a rate cut after renewed evidence of sluggish econ growth, and possibly of recession threats and probably have little effect on a stock decline ABOLISH THE FED, CREATOR OF INFLATION AND RECESSIONS / jim