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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Fun-da-Mental#1 who wrote (47602)7/8/1999 6:25:00 PM
From: double-plus-good  Read Replies (1) of 95453
 
Fun-da-Mental, (OT)

I'm not sure i should expect someone of your skills to have a handle on the futures side of gold trading, but I, for one, am finding the climate in gold to be so impossibly bearish that I'm beginning to put some of my osx profits into medium term calls on the blue-chip producers. The contrarian in me is making me do it.

The charts of Barrick and Newmont look like kissing cousins to the charts of the big-cap osx stocks as they repeatedly tested the lower limits. As all the small scale producers cease production and market psychology adjusts to the relatively small bank sales the stage could be set for a real nice bounce.

One thing not really discussed in the equation of supply and demand is the asian recovery. Gold will never lose its status in asia. Even among the very lower class a very large amount of gold must be given by the groom to the parents of the bride. New Year's celebrations are typically marked by gifts of gold and simply put "gold is status." As the recovery in asia continues the demand side of the equation is likely to improve markedly IMO.

I probably sound like a gold bug, but this is the first time i ever bought anything gold related. I'd be curious to hear your thoughts if you care to share them.

TIA,

brian
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