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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject9/1/2001 1:44:22 PM
From: gold$10k   of 36161
 
FOX Business TV and gold mining stocks... I scan the 4 FOX TV Saturday morning business programs (after I've videotaped them) for indications of market sentiment and also of what's now acceptable to publicly admit about the market. This week, two panelists on 2 different shows (Bulls and Bears / Cashin' In) recommended gold stocks. This 1st time event led me to conclude that gold stocks are on the verge of being considered as acceptable investments. The one on Bulls and Bears (recommending HM and predicting a 50% rise in the POG and the continued fall of the dollar) was ridiculed by the others as a goldbug, while the one on Cashin' In (recommending BVN) only elicited concerns from the others about the political stability of Peru (where BVN is located) and that gold stocks may have peaked (although they were a good idea 6 months ago). I interpreted this as meaning that all the others had completely missed the gold stock rally so far and don't own any... a good contrarian indicator.

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