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

To: ItsAllCyclical who wrote (14772)	9/8/2008 4:44:47 PM
From: patron_anejo_por_favor	3 Recommendations Read Replies (3) \| Respond to of 29622

A couple things I'm looking at on the HUI: Forks at stick low support at 275-280ish: Fibo on the HUI for the entire gold bull is at 277: The COT's have also gone from Commericals overwhelmingly short to a much more moderate position (about -100K contracts). Taken together, I think we're very near a significant bottom. At least enough for trades on the majors.

To: ItsAllCyclical who wrote (14772)	9/8/2008 5:30:44 PM
From: jimsioi	Respond to of 29622

The looks of capitulation, indeed.. the sell off at the close sure had the looks of something like that...A little further down, certainly possible, as long as the dollar continues to rally. I can understand the reasoning behind its doing so for the time being. At some point, likely not tomorrow, the market will awaken to the massive amount of new debt the treasury is going to have to issue to support all of these bailouts, wars, and stimulus packages. Now, however, it seems to be in the best interest of the big holders of dollar debt to keep the party goings; there not being a ready substitute and the buyers and sellers of the debts interests being intertwined.