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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2071)	11/12/2003 5:17:25 PM
From: re3	Read Replies (1) \| Respond to of 110194

Date: Wed Nov 12 2003 13:49 trotsky (let's see...) ID#377356: Copyright © 2002 trotsky/Kitco Inc. All rights reserved the stock market is up, and gold stocks are up at the same time...gee i wonder how that's possible? however, there seems to be some doubt as to the ability of gold and gold shares to hold on to these exalted price levels - institutions are selling into this rally: click here ... now, this is not a precise timing indicator, but the 'buy/sell' intention gauges Thompson publishes have deteriorated steadily over the past week or two. to me this suggests that the approach of the '96 high price attractor in the PoG ( approx. $420 ) will indeed be used for distribution purposes. if the HUI reaches the target range of 230-270 on this move, it will be extremely far from its 200-dma ( currently residing at 160 ) - the several standard deviations that you usually get in such blow-off like moves. we may still be 'early' in terms of the secular bull market, but we're sure 'late' in its first cyclical stage.