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Is this move for real or just a giant short
covering rally? Have they, whoever they are, finally decided to
reverse positions and sell the Euro, bonds and gold and once again bless stocks,
the dollar and commodities? Gold went right through my previously
posted 338 support and the 10 point increments noted look good, 328 and
then a final destination of 318. Each with a reduced probability.
The question is can gold stay down with inflation
on the rise? Gas in San Francisco is $2.75 a gallon and they are currently
looking for $3 in the near future. The last time oil was at $40 a barrel
gas was at about 75 cents. What happened to the $1 per gallon
outrage? Our oil based economy could be in for a real shock. It isn't only
the air lines that are impacted. Almost everything you buy is
trucked. In some cases shipping costs are greater then product cost.
It will be interesting to see how things evolve.
Just some thoughts. <FONT face=Arial
size=2> Ira.
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