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Gold/Mining/Energy : Gold Price Monitor

GDXJ 104.50

-2.0%

Dec 8 4:00 PM EST

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To: goldsheet who wrote (86495)	6/6/2002 8:42:09 AM
From: long-gone	Read Replies (1) of 116798

Moneynews.com Gold Bugs Skeptical But Ready to Rock Prices on gold and gold stocks can soar higher, but even the gold bugs aren't so sure. Mark Hulbert, who tracks the advice of financial newsletters, writes in his CBSMarketWatch colum that he thinks this means gold is ready to rally even further. "It's nothing short of amazing that the gold timers are not exhibiting more exuberance," Hulbert exclaims. Gold futures contracts briefly rose above $330 on Tuesday, another record, while the Hulbert Financial Digest's gold sentiment index remained at just 45.8 percent - a number Hulbert says is not intoxicating. He says that the average gold timer is advising that subscribers allocate more than half their gold portfolios to cash. Over the past month, gold has climbed more than $20 an ounce, but Hulbert's sentiment index has risen just 16 percentage points. Perhaps gold bugs are setting up investors to go in for a lethal kill. After all, notes Hulbert, "their collective mood reminds me of Charlie Brown after one too many times trusting that Lucy wouldn't pull the football away at the last minute. He decides never to trust her again."

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