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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (4060)	4/11/2003 8:25:25 AM
From: 4figureau	Respond to of 5423

Gold: Manipulation? Richard Russell Dow Theory Letters April 11, 2003 Gold -- I continue to believe that gold and most gold shares have recorded their lows. As subscribers must know by now, in a gold bull market sometimes the metal leads the gold stocks but this can reverse, at which time we will see the stocks leading the metal. This is one of those times when it seems the gold stocks have been leading the metal. Yesterday I took it that a bottom was completed in HUI, and with yesterday's action HUI broke out above its 125 resistance. Gold, the metal, has been "heavy" and seemingly reluctant to follow the lead of HUI. Today, as I write this morning, the June Dollar Index is down .48 and yet June gold is down .80. Strange action, and counter-intuitive. When the dollar is "cheaper" it obviously should take more dollars to buy an ounce of gold. But why ponder the peculiarities of the market? Manipulation? Who knows, the manipulation arguments never seem to end. This is the way I see it. The clear breakout of June gold from its downtrend will come if June gold can close above 330. As I write June gold is trading in the vicinity of 325. Gold needs another five dollars to etch out a clear bullish trend. Looking at the last five trading day in gold, however, I noticed one interesting phenomenon. On each day gold's close was higher than its opening. I have always found this kind of action bullish, and by the way this type of action can best be seen in candle-stick charts. 321gold.com

To: 4figureau who wrote (4060)	4/11/2003 1:00:37 PM
From: Tommaso	Respond to of 5423

Do you know where one can follow the average P/E of the Japanese market on a regular basis? I'm not going to believe it's hit bottom until that is down to a reasonable level--certainly below 10. At the start--long long ago--of the Japanese bull market, great companies could be bought at a P/E of 3 or 4. That's what Templeton bought them at originally. Back to gold: any evidence of continued interest in that in Japan?