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To: Jimsy who wrote (24722)	12/21/1998 9:56:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116759

<<break below 50>> a better question asked of Bobby Berra. I dion't think so, if markets tie XAU to POG. rh

To: Jimsy who wrote (24722)	12/22/1998 11:47:00 AM
From: Zardoz	Read Replies (1) \| Respond to of 116759

"in August the XAU hovered around 60 then broke down to below 50. Are we in danger of a recurrence? Comments?" Yes. Anytime there is a large OTC position in derivatives, and a large exchange derivatives you end up with the two markets, one expiring on 3 Friday, and the other usually at the end of the month, pushing hard againt each other. Add to that the volatility of the ratios between the XAU and the POG, and you could set yourself up for a whip-saw. But in saying that, a break below 50 is slim. A bouncing off, dropping below 50 is more likely. But a washout could occurr again, as the XAU is still dragging behind the POG moves. But this may be to year end window painting. So it may occurr in Jan 99. Merry Christmas Jimsy {glad to see you here} And I hope all your STOCK-ings are performing assets.