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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (13870)	6/10/2008 4:01:39 PM
From: jimsioi	Respond to of 29622

Postman and VT, on the bottom in gold, per experts .. If Gold goes to $840, GLD will just take out the most recent lows made the first of MAY and not make a "third higher low" per Sinclairs' suggestion but a new low...Gold's downside will then also have exceeded Sinclair's previous maximum correction point (approx. $85 basis the GLD) which is where it is right now... stockcharts.com $840 gold would be something like $82.85 GLD...which is the point of a breakaway upside gap left on the very first trading day of the year... Below that point GOLD will be DOWN on the year.... The dollar got a boost, obviously today, from Bernanke the HAWK talking tough on inflation...That strength took the smoke out of CRUDE's early recovery and was all too much for PMs which just collapsed. Come the G8 meeting this weekend (and the full moon next week) we'll be hearing more talk about fighting inflation from Central Bankers. The dollar will be strong; commodities on the defensive and the question Longs will have to have is: Is the G8, ECB and FED talk just bluff?. If one believes so, then one buys PMs in about a week's time, around or after options expiration.