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cannabis

06/15/06 12:29 PM

#81110 RE: chainik #81108

If gold hits 300 and crude hits 40...the indexes(DOW,NDX,SPX) could collapse.I think that OIH bouncing off 132 and XAU bouncing off 119 has ***ALOT*** to do with the indexes also going up.
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ajtj99

06/15/06 12:31 PM

#81114 RE: chainik #81108

chainik, I suggested later on that I thought $418 was more realistic for Gold, so let's use that for now, OK?
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Ace Hanlon

06/15/06 12:32 PM

#81115 RE: chainik #81108

I pretty much agree with the AJT market forecast of 1255 SPX.

But that means the rally is already two thirds done.

Zeev Head talking about the decline resuming next week after a rally into expiry.

I also agree that gold probably will break the 200 day moving average before this "correction" is over.

The Nikkei dropped well below the 200 day MA before rallying.

No reason why gold cannot do the same.

A drop to near $500 on the next selloff would not surprise me.