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

To: Alex who wrote (27803)	2/5/1999 10:56:00 PM
From: Giraffe	Read Replies (2) \| Respond to of 116764

buysignals.com Friday , February 5, 1999 Sell Gold! Today' attrition from +1.5% to +.3% in gold stocks may be attributable to the reluctance of traders to carry long positions in gold and gold stocks into the weekend. Regardless, there is no advantage to us to continue to hold a position in gold in hopes that Monday turns out to be a positive day for this sector. Arguments can be made for stability in gold stocks, but it isn't necessary to depend on it when we have the option of stepping aside for better confirmation that prices will move higher. Today's failure to follow up yesterday's strong move is definitely a caution signal worth heeding. Likewise, tech stock bargain hunters are stepping up with their 'dip mentality'. Attempting to ascertain Monday's direction in tech stocks would be nothing more than shear speculation. With uncertainty peaked again, cash is an attractive alternative. Click here to view previous commentary. The largest amount of money ($19.6 billion) for one month been poured into the market in January - yet thousands of stocks are lower than their 1998 closing prices. Warning signs of a tiring market are an expanding number of new 52-week lows exceeding new highs, a failing advance-decline line, and a narrowing market (a few stocks leading market averages higher as the majority of stocks decline). Our work says a market top is not due until April, but caveat emptor. On-line traders take note: E-Trades recent failure to process trades underscores a looming problem of all stocks traded via e-commerce. The day may come when lots of investors want out and the system may not accommodate them. The NASDAQ system has demonstrated this in the past. Either have a backup source for executing trades or consider removing yourself entirely from this trap.