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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.90

+0.1%

Dec 4 4:00 PM EST

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To: goldsnow who wrote (37554)	7/22/1999 6:12:00 PM
From: John Mansfield	Read Replies (2) of 116795

'....Huge gain in oil prices forces rise in inflation and massive selloff of equities Considering the countries most likely to suffer significant technological, social and political problems, this scenario is more probable than most here think. US can offset some or all of the price increase at home by the sale of Strategic Petroleum Reserves oil. Since this scenario will probably be a short-term position, longer-term positions in equities will remain intact. This will be viewed more as a portfolio adjustment than a permanent position. A big increase in oil prices will induce OPEC producers to cheat on quotas which will then drive prices back down--history repeats itself. Duration of oil price increase will be chief determinant in selloff of equity markets. Sharp selloff simply means buying opportunity to many. ' ... geocities.com

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