Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (6034)	12/17/2002 10:23:37 AM
From: TrueScouse	Read Replies (1) \| Respond to of 39344

Bruce: While I agree that the Elliot Wave prediction of a retreat to $200 is highly unlikely (and terrifying!), I'd be surprised if the POG just sails through the $340 to $345 area without a major battle. My long-term charts (monthly, London PM fix) show the 22-year downtrend line now at $343. London fixed this morning at $341 and this afternoon at $339. Spot touched $343 exactly overnight. It's 7 years since the POG last touched this line, and it would be highly unusual to go straight through a trendline of such significance. If it does (e.g. if tomorrow's London PM fix > $343), then that would finally confirm the bull market for me! Optimistic, but still waiting for "the big one"... :^) Best regards, Howy

To: Bruce Robbins who wrote (6034)	12/17/2002 11:40:26 AM
From: Silver Super Bull	Respond to of 39344

Bruce, My impression, after reading Prechter's "Conquer the Crash" book, is that he believes gold will be severely impacted by deflation, hence the prediction in the slump in the gold price. However, in the book, he does bring up some very interesting counterarguments (to his gold slump prediction) regarding the gold price. Like you say, however, the crashing dollar/crashing gold price scenario seems unlikely. What would people buy to maintain their purchasing power? DB