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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Gator who wrote (409)6/18/1999 11:31:00 PM
From: Wade  Read Replies (1) of 48092
 
Gator,

Nice move on PDG today. Both ABX and PDG are very nicely hedged. They will survive low POG. I am trying to read if XAU or WG580(TC2000) is ready to go up or go down. Looks like the current prices is safe for a while. But, not sure about the direction. I think the POG will remain weak until the strength of dollar start weakening. But, that is not in a foreseeable short term future yet.

I read a few more bullish forecasts lately, however, all of them based on speculation of how much gold was sold short and short squeezes. Almost all of them us "if", "may be", or "just imagine" those kinds of speculative words to support their theories. None of them use "definietly", "absolutely" or give any names of institutions shorting gold. Even they do not sure if LTCM really shorted gold. I have to doubt if their reports have any fact unless they have any direct evidence.

I remember an old joke:
A stock broker went to heaven. However, he could not get in because the long waiting line in front of the heaven's gate. He spread a rumor that a lot of gold was found in hell. Many people rushed to hell to find gold. Very soon the line shortened to only himself. St. Peter asked if he is ready to go to heaven. He hesitates for a moment said: Well, since so many people believe there is gold in hell ...may be there is some truth in it. So, he followed them .....

I thought about this joke for at least a hundred times. I asked myself: Who am I really kidding? Have a nice weekend.

Sincerely,
Wade
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