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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Bobby Yellin who wrote (38135)	8/1/1999 1:13:00 PM
From: Rarebird	Read Replies (1) of 116764

Bobby, the Europeans and Asians are just beginning to sell off some of their US Assets. They have been highly overweighted here. This is a decisive change in trend, since they represented in the past a tremendous support to the over-inflated US Financial Markets. Call it repatriation. The fact is that the stock market is a discounting mechanism and the Europeans and Asians have decided that they want to reduce exposure and want out Now. This is an integral part of the economic cycle too. It was bound to happen. If I was long the S@P or the 30 year treasury bond, I wouldn't play martyr and stand in their way. The selling is going to intensify as we move into the new millennium.

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