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

To: ali who wrote (22639)	11/5/1998 3:30:00 PM
From: Giraffe	Respond to of 116770

Today's signal from Buy Signals: Cash! Last Signal Buy Gold 11/4/98 Gold fundamentals, contrary public opinion indicators and Buy Signal's 'continuation signal' all confirm higher gold prices. In the short term, the pattern in this up trend from August 31st is 1-2 strong days (green) followed (with exception) by 1-2 days of profit-taking (yellow), which is today's prudent recommendation. Financial markets are hung up on lower interest rates. Yes, under 'normal circumstances' and the majority of time, lower interest rates have lead to higher stock prices because cheaper money lowered the cost of production of goods and services which increased corporate profits. "Lower rates = higher stock prices" is Wall Street's spin on Mr. Greenspan's words of warning. They are ignoring the reason he is talking down rates. He's worried, very worried! He hears "complex, highly-leveraged, under-regulated financial hybrid instruments" ticking, a sound undetectable to the deaf ears of Wall Street. His message today was "lower interest = hopefully no collapse of world financial markets", not "higher stock prices". We are taking this profit today exactly because of his concern. Indications confirm higher gold prices - perhaps much higher, and soon; however, Buy Signals has accumulated its competitive year-to-date return by investing selectively and capturing profits. For the technically minded, a perfect thrust wave 3 would extend to a Fibonacci 162% of wave 1 to XAU 83.6 (on a closing basis). At 3:15 the intra-day high has been 84.2. Patterns and mathematical relationships identify this price as an optimum sell point.