An open letter to jr. gold investers by Ron Pitts 03/27/97 Message Board

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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97

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To: Ron Pitts who wrote (146)	4/1/1997 6:10:00 AM
From: Dan P	of 297

Ron: Yesterday was a good day indeed for investors in junior mining shares. While the Dow tanked, gold initially dropped and fell to at least -$1.30, only to recover and close up $.80 in New York. There was a tremendous rally in the Junior mining shares, which of course had been smashed just a few days before. You mentioned a number of stocks that rallied, and in addition to those, Corriente finished the day up C$2.20 ! The news on Bre-x is improving, and hopefully we'll see stabilization of the juniors. I realize that it makes some sense to think that if the Dow Jones Ind. has a severe correction, that gold and gold stocks may follow. The way gold is behaving, I think that we may be near an important bottom in the yellow metal, and that it may behave in a counter-trend manner to the Dow. I suspect that if indeed gold rallies (silver, palladium, and even platinum have much stronger charts than gold-and gold should follow), the gold stocks will follow. Remember that there is going to be money on the sidelines looking for a home, and a rally in the gold shares could be accompanied by a major cash influx, as people and funds cash in their Dow stocks. Regards Dan

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