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

To: PaulM who wrote (8759)	3/23/1998 10:53:00 PM
From: Terry Rose	Read Replies (1) \| Respond to of 116753

Paul, After the huge run up in the Dow over the past few weeks, the mutual funds have put in most of their cash. I think they are vulnerable to the oil story. I am short two big banks and their volume was down over 66%. The higher the stock prices become, the more money is required to support them. It won't take much to break through support levels, and once broken their is nothing left to support the market since the money was already put in during the run up. I think that their last cash was put in today to keep the party going, and as you pointed out, it was unsuccessfull. The next few days will be interesting. Since the Central Banks are for the time being sending out a positive spin on gold, a stock market decline may actually cause a run up in the gold price this time. I also found it very curious that an article you posted earlier on EMU gold reserves neglected to say that Belgium gold reserves sales were to other central banks. Fortunately this thread gives a more comprehensive picture. Terry,