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To: 007 who wrote (5442)	11/17/1998 11:18:00 PM
From: The Ox	Read Replies (1) \| Respond to of 14427

I would not underestimate what happened today. A third rate cut in a VERY short period of time. I believe that the amount of money the FED has recently poured into the market place is very significant. While it won't completely fix what ails the world, it's a boost to the struggling world markets. I'm not betting the farm on a meltdown or an explosion to the upside. I think it's wise to continue to be cautious, although I am not OVERLY bearish either. To change the subject, for those who follow world markets, I think Singapore's chart looks extremely bullish. I don't follow that county too closely but the chart looks solid, IMO. I think the longer POG stays over $290, the more bullish gold looks. Basing for it's next leg up, that's the way it looks to me. Just my 2 cents worth, Michael