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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (3184)	11/15/1997 8:05:00 PM
From: Gary	Read Replies (1) \| Respond to of 116836

Hi Alex, The Princeton Economics Institute site for gold price forcasting has turned a little more positive for the short term. Their outlook for the London PM ( GOLD )is in fact in the green for the first time in awhile. The Elliot Wave site has turned bullish all of a sudden and says we may in fact have the low by November 25/97. I read Ken Coleman's news letter today and he along with Shaffer are bearish on the BIG market. Coleman suggests the tide is about to turn and said he will recommend gold stocks in his December 1997 letter. I still am wearing my crash helmet. I would bet a year from now things will look much different and I do tend look at things in the longer term. A fund manager said last week on CNBC that he would start buyng gold stocks at the 75 level of the XAU. Coleman also said gold stocks were under accumulation now by some heavy hitters.

To: Alex who wrote (3184)	11/16/1997 12:51:00 AM
From: Gary	Read Replies (3) \| Respond to of 116836

Alex, I E - mailed Yager who writes the weekly Elliot Wave Theory site information. Here is the text of his reply : "The first impulse wave I referred to is for Gold. It can be labelled as wave A of A - B - C zig zag that would eventually carry prices between 200 - 100 . If we are right the upcoming rally would be wave B of the zig zag and could be very difficult to project as B's are often very complex. But a move bcak to $335is most likely and $365 is also possible. This B wave can last many months so don't expect to see the C wave before the end of 1998 if not 1999. Just accumulate cash ( and courage) to be able to buy GOLD dirt cheap because once this zigzag is over we do expect GOLD to go back over $800." If you look at his site every week as I do these comments help me to understand the theory and weekly comments. The Elliot Wave theroy has of course been around a long time. His comments over the last number of months have been pretty good and fairly accurate. His rise to over $800 and the approximate timing is consistant with P.E.I. and a few others. I hope this site is still here in 1999 and if I am I'll still be hanging in.