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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Tom Byron who wrote (5069)	4/1/1999 11:50:00 PM
From: Rarebird	Read Replies (3) \| Respond to of 81821

Tom, that was a no brainer: A little Elementary technical understanding of the chart showed that the XAU would encounter stiff resistance at the 60 level. That was obvious from Thursday's action. The Questions moving forward are these?: 1) Has the XAU fully priced in possible IMF and/or Swiss Gold Sales? I think not. 2) Is the selling washed out yet? If the Dow and S@P break out to new highs, money will continue to come out of gold mining stocks. 3) What are the odds of the XAU holding up during a crash? Not very good. 4) At what stage of this Bear Market in Gold are we in? The last, which is typically the largest wave down. I'm very long certain select Gold Mining Companies; but like most of the producers, I'm no fool and completely hedged. What's very revealing about this most recent move down is that it is taking place in the midst of some news ( inflation surging in the Chicago Purchasers Managers Index of Prices Paid; the price of Crude surging; and armed conflict and bombing throughout the World) that in the past was Very Bullish for Gold. When a Market can't rally on Good News, it is poised to fall further. I am watching out below here over the short term- though I continue to see a Renaissance in Gold developing during the second half of this year, propelling the shiny yellow metal to heights well over $300 an ounce.