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Gold/Mining/Energy : HARMONY GOLD MINING -- HGMCY
HMY 3.670+2.2%4:00 PM EDT

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To: freeus who wrote (230)6/21/2002 10:21:59 PM
From: Bandit19  Read Replies (1) of 271
 
Freeus,
Hi. Harmony's wave 4 is locked in...onward and upward from here.

Here's the latest from John Murphy today....

FALLING DOLLAR BAD FOR STOCKS -- BULLISH FOR GOLD... A falling dollar is usually bearish for U.S. stocks. For one thing, it shows lack of confidence in the U.S. economy. It also discourages foreign money from buying U.S. bonds and stocks. Recent numbers show that foreign money is already starting to leave the states. In time, attempts to support the U.S. currency may lead to higher U.S. interest rates, which would also be bad for bonds and stocks. As we've stated several times, the main winner in this scenario is gold and gold stocks. The gold chart looks remarkably similar to the Euro (and a mirror image of the dollar). Gold bullion is also challenging major resistance around $325. A decisive close through that barrier would be a major bullish breakout in gold. The XAU Index is also stalled at a major resistance barrier. The odds for bullion and the XAU breaking through resistance would be greatly increased if and when the dollar crashes through support.
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