MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.39

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Dec 4 4:00 PM EST

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To: Mike Hermann who wrote (21638)	7/31/1999 12:52:00 AM
From: pater tenebrarum	Read Replies (1) of 99985

Mike, for the marginal producers like Harmony and Durban Deep it will be more critical whether gold sinks first to $200 than for the ABX's and NEM's. on the other hand, the marginals give you the best bang for your buck once gold turns around. my method is not to try to time the bottom in gold, but scale into the mining stocks gradually. that way i get a reasonable average purchase price. as i said, patience is the key here. some S.A. producers like AU and GOLD pay a fat dividend that livens up the waiting game a bit. some people also sell covered calls on their gold stocks to ride out the dry period. regards, hb

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