GOLD DOWN $3.00 ---- FUTURES UP

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Looks like the gold rush is calming down.

-- (DowGuy@wallstreet.com), September 29, 1999

Answers

Well, yes, I suppose one could argue that case... if one also works on a 5-minute time-frame, as you seem to!

-- Y2KGardener (gardens@bigisland.net), September 29, 1999.

Gardner,

That was funny. Thanks for the laugh.

-- (DowGuy@wallstreet.com), September 29, 1999.


The bid and ask have a large spread. They seem to be coming together a little bit. The spot price is moving down, but the bid is staying around 298-299.

-- Bill (y2khippo@yahoo.com), September 29, 1999.

Mayday, Mayday

GOLD DOWN 5.5

-- (DowGuy@wallstreet.com), September 29, 1999.


Hey DowGuy:

The relationship of gold and the DOW is far from simple. It's not "one's up and one's down". What's happening in the gold market is probably a classic short squeeze. Where it affects you is that, as the price of gold goes up, it plays on equity investors minds a little bit. (Walnut-sized brains tend to get confused easily.)

By the way, I made 91% in the market last year without touching a dot.com stock, margin, or options. I was up 20% this year when I bailed. My "shorts" (I love that phrase) are up 10% and my gold is up about 20%. so I guess maybe somebody might end up eating my "shorts" afterall.

-- Dave (aaa@aaa.com), September 29, 1999.



Anyone who expects gold to simply keep rising at the rate it's been moving for the past few days without a correction pause or pauses has no understanding of how markets work. Of course it's down today and it may be down tomorrow and later this week, but the overall trend is now a rising one, plus the gold bear market psychology is over.

-- cody (cody@y2ksurvive.com), September 29, 1999.

Dave,

Thanks for explaining that. I feel better now.

-- (DowGuy@wallstreet.com), September 29, 1999.


DowGuy,

Why do you have such an interest in Gold which you don't even begin to understand, and certainly don't have any intention of investing in? Is this just idle fascination for you, or envy, or what?

-- Gordon (gpconnolly@aol.com), September 29, 1999.


Gordon,

Like I said in a previous thread, I bought $15,000 worth of Microsoft stock about ten years ago and sold it about a year ago. Why would I be envious of any of this? Cheers. :)

-- (DowGuy@wallstreet.com), September 29, 1999.


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