Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: GVC who wrote (124)	6/12/1998 5:52:00 PM
From: Crimson Ghost	Respond to of 81158

In bear markets all news is bad news. Plus the fact that most analysts probably believe that reports of Japanes buying are false. On a brighter note Steve Kaplan still very bullish. Expects a big rally this summer. "The current outlook is STRONGLY BULLISH, having risen from the previous rating of significantly bullish due to traders' commitments showing that commercials are increasing their net long position in COMEX gold futures through a combination of producer buybacks and fresh accumulation. The white metals all have bullish traders' commitments for the first time in many months. Gold's long-term outlook remains extremely bright, with the 1998 rally from a triple bottom confirming an extended multi-year base and pointing the way higher to potentially extremely higher prices over the next decade or so. Though gold may continue to retest its lows from January 1998, there is an increasing likelihood of a late summer surge above $320 per troy ounce, and the possibility of $342 by January 1999. Sentiment toward precious metals and their shares is nearly unanimously bearish, matching the extremes of the second week of January, as is typical of a bottom, with those major-brokerage gold analysts who are compensated handsomely by short sellers having invented increasingly creative reasons for gold's recent weakness and redoubling their publicity campaign, a sure sign that they are trying mightily to get more speculators to jump on the short-selling bandwagon so that their own clients can cover their short positions. Even back-to-back rally days are treated with skepticism by most analysts, a sure sign of bearish sentiment. Gold's sharpest price surge will occur after it regains its 200-day moving average spot price, and is likely to be combined with strongly positive on-balance accumulation (its heaviest volume occurring during periods of rising prices) and an intraday pattern of early dips followed by late recoveries and frequent late rallies. The heaviest gold buying on the COMEX has occurred during those times of day when the most knowledgeable traders are doing their most concentrated volume of transactions."