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To: Thean who wrote (2994)9/15/1998 10:17:00 PM
From: Shelia Jones  Read Replies (1) | Respond to of 14427
 
Thean, You said it in your post. Gold has been moving opposite the market like clockwork. And even if the market rallys short term - it's only short term. That's why I'm considering the box. Our gold's gapped up this a.m. and closed down - TA wise doesn't this look pretty icky? If spot price is down in the morning (is now) and dollar is up... Well, take a look at NEM and ABX's stochastics...they can each easily lose a point or two.

I just think we are likely to go down (goldwise) first - then up.

Now if the mkt. really hates what A.G. says (and I don't remember him alluding to a rate decrease - that came out of political hype - but who knows where we'll be tomorrow?) it may be sooner gold goes up but with options expiration on Friday things are real sticky.

What have I got to lose - I'd be locked in either way and could cover with a profit in the short term if gold keeps heading (short term) the way it's going. The worst case would be gold rallys big time tomorrow. I don't see that likely as they were being sold at a healthy clip most of today but WDIK?

Are you holding the course on ABX?