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: JED who wrote (181)	4/3/1997 8:06:00 AM
From: Daytek77	of 297

Hi JED Thanks for your informative post. If I remember correctly the 1987 crash was precipitated by a strong upward revision in short-term interest rates. The present information shows a strong economy but not one which warrants that type of movement. In fact the Federal resere board was criticized in some circles for the intial move. I beleive another 25 or 50 basis point move in fed funds rate is what's being factored into the bond and equity markets now. If the economy becomes stronger and requires more action then we will see a big (ala 1987) correction. For now I expect a rally to start very soon possibly to coincide with earnings season next week. For the junior mining issues it will be tough sleding. The best place for refuge is in companies with money like Yamana, PAcific Rim, Corriente, Francisco etc... The only question is how much liquidity there will be and will people aggressively price "good news" into their prices. I still believe that BXM is the catalsyt. Should a positive outcome devlop from the new drill results this will help the juniors especially since most buying into BXM now are retail investors. All the best Tony

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