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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (156)	4/25/1998 10:32:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Richard, No, I meant $280 US as the major low for gold. Prechter has been projecting the mother of all bear markets for quite a spell and I believe he has said that gold would fall below 220 and I believe Auger has supported this view. I may misunderstand but I think Auger is now suggesting that we are about to start the last 5 legs down and that he see 280 as the worst case low. I was just mentioning what he was saying. I was not supporting his view. I find it hard to believe that gold will drop back very far. However, I don't have any applicable expertise. For what its worth, Casey says we have seen the bottom and McAvity says he is almost sure that we have see the bottom. I think Armstrong is bullish but he says we need a weekly close above 316.10 to confirm the bull and, until we see such a close, we run a risk of a lower low. His computer is saying the weekly trend is bullish. Cheers, Larry