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

To: sea_urchin who wrote (32604)	4/28/1999 1:06:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116762

< Pray tell an ordinary mortal, How do you know all this? > We are in the midst of a climatic magnificent Blow-Off here and the XAU senses it and is positioning the POG for a Major Rally. Do we need to see the inflation numbers confirmed in the CPI when those of us who live here KNOW that Inflation is already rearing its ugly head? The Present Blow-Off is a Blessing for the XAU and the POG because the higher the Dow, S@P and Nasdaq rise the Greater ( and sooner) the Decline will be. This Blow-Off reminds me of the Blow-Off in Hong Kong in the last 4 months of 1993. From a peak of 12,000 the Hang Sang fell to about 6800. I expect the same to happen here. Gold tends to rally the most at the beginning of a Bear Market. < As for the Blow Off ending, with all due respect, I heard that story at Kitco 3 years ago when the Dow was around 5,000. I can't see why it is different now.> At Dow 5000, I was totally invested in a diversified portfolio of common stocks. I became bearish in July 98 at around Dow 9300. The Dollar is so over inflated ( due to the exuberant stock market and other depressed countries buying )in regard to other currencies that it is due to fall dramatically as a result of Inflation and the renewed growth of Southeast Asia. All the Talk of future IMF/Swiss Gold Sales cannot break this Market! The Bottom was seen in August 98. All the BAD NEWS is Priced IN and these Gold Sales may never occur. I certainly wouldn't count on Congress approving IMF Gold Sales: There is strong opposition.