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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (12664)	10/2/2004 2:33:55 PM
From: sciAticA errAticA	Read Replies (1) \| Respond to of 116555

re: Do you take this comment seriously? Throughout the 20th century, there was a consistent relationship between the price of the DOW, and the price of 1oz of gold, at the bottom of equity bear, and corresponding top of gold bull markets. Technicians have noted this relationship - including a report in the last 12 months by SSB's senior technical analyst Louise Yamada, who has been spot on with many of her calls - often to the chagrin of SSB's sell side brokers. The relationship is simple - at the bottom of the equity bear, the price of the DOW approaches the price of 1oz of gold. If history's pattern holds true, and provided we're in the midst of a classic secular bear market, the DOW will approach 400, or the price of gold will approach $10,000... or more likely, they'll meet somewhere in between. In this context, Turk's comments are within history's goalposts.