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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Goldbug23 who wrote (28990)	9/25/1998 11:47:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 94695

Bug, i started getting interested in gold and xau last october and got really BUGGY last December. However this bottom took longer than I thought (as did the equity market top) TECHNICAL ANALYSIS 101 - Momentum precedes price. What we had in December/January was a momentum bottom waterfall drop. This bottom on Sept. 1 is price bottom, unconfirmed by RSI, Momentum, MACD. I would hold'em on the XAU, we have ended and 18 year bear market in gold. The gold stocks you are buying today, are like buying equities in 1982. In converse, we have the major momentum top in equities in August/October last year and the non-confirmed peak in July 1998. If you want to pick apart the run from October. The April peak was the momentum peak and July was the non-confirmed price peak. These two supertankers have now made there turns and it took 9 months to complete these turns. The equity market has hit the iceberg, whilst our beloved XAU is sailing off to the Tahiti for a glorius vacation -g- Long term Capital is the tip of the iceberg. In the bubble Long Term Capital means swaps, flops and all sorts of fancy derivs - nothing long term about it -g- Bad paper is going up in smoke daily - deflation - the destruction of money. They can't destroy gold - get some physical. bb