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

To: Bobby Yellin who wrote (7465)	2/11/1998 2:17:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 116982

Bobby, I am a student of investor psychology - though I don't do a good job of studying it. Based on what I learnt, overvaluation is not just enough for the market to enter a long-term bear phase. Soon after a violent shake-out, the bull gets even stronger if the market has enough liquidity. When things look good, the people who toughed it out during the shakeout, obviously demand more premium than before. If the buyers are aggressive at the same time, we have a shooting rocket. If the buying has exhausted, we have steep corrections. Right now, I am trying to gauge what kind of a liquidity is out there. My numbers are murky. But, I am speculating that this market is trying to absorb the IRA money that is due to come-in by the end of April. So, barring some surprises (ala rise in interest rates, falling dollar, China currency devaluation, Japan banks going bust, Clinton getting impeached), I think this market is headed to new highs (Approx 9500) until early May and then correct violently. News from Malaysia, Thai, Indonesia, Korea is not going to shake this market any longer. Just my thoughts. -Mohan