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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce McGaughey who wrote (23229)	10/25/1997 2:26:00 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 35569

Bruce, why do I see a long term XAU with a normal left shoulder and head with a right shoulder partially formed? If that's the pattern, the last one out please turn off the lights. PS, I don't think that the current weakness in gold will bother any of the dirt's since the expected extraction cost is just a fraction of the gold price, reference Maxam extraction cost announcements.

To: Bruce McGaughey who wrote (23229)	10/25/1997 3:30:00 PM
From: J.L.	Respond to of 35569

<<I really do think we're seeing a reverse head and shoulders bottom in the XAU (gold index)>> Bruce: I was looking at the same thing myself and was real happy to see it hold above 100. Friday really screwed up the chart however and who knows what will happen from this point. Gold could pop up $15 or $20 on Monday and all our worrying would be for naught. I saw an "expert" interviewed on CNBC Friday and his view was that the entire move was done by banks manipulating the price (as a short term trade) either by shorting or by outright selling. There must be one hell of a short position out there if that is the case. Regards, JL