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

To: Zardoz who wrote (10500)	4/23/1998 2:49:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 116759

Hutch, I'd say it doesn't matter if Gold clears $320. TA of the XAU is what counts. EW can be very helpful, especially in analysis of gold stocks. Jim

To: Zardoz who wrote (10500)	4/23/1998 2:53:00 PM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116759

you might be right..you might be wrong wondering if utility average will also give us a clue.. seems interest rates have been a major rationalizing reason for astronomical pes ps..I think you are wrong ie..no more fear of Central Bank selling (geez Germany's holdings look measly compared to equities here) (article in Barron's about mergers aren't always being successful might cool some optimism) (Clinton apparently now focussing on social issues rather than on business side of economy) (speculation finally in small caps) (more mines having closed and companies going bankrupt in resource sector) (Placer putting up a lot of money for exploration in another junior) (possibly mining companies not mentioning further hedging..or at least I haven't seen them announce taking new positions) (possibly beginning of new wave of axing) (Japan backed into a corner ..etc

To: Zardoz who wrote (10500)	4/23/1998 10:44:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 116759

>>I disagree, I say gold does not CLEAR $320. But will sink below $300 in the near term. And I also believe that although TA is not 100%, it's more correct than most want to give credit to it.... But Elliot wave analysis is bunk {can be applied to everything, everywhere}<< I share your skepticism re. Elliot Wavering - it hurts my feeble little brain to sort through all those waves - but I'm curious as to what TA indicators or tools would tell you that gold won't go above $320? The garden variety indicators I use give me a pretty good sense of when we're trending or reversing and some good ideas about support and resistance levels but I haven't come across any technical indicators that would say x stock absolutely won't go beyond y price. I'd be interested to know what you're using to draw that conclusion.