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Gold/Mining/Energy : Gold Price Monitor
GDXJ 144.29-0.5%Jan 26 4:00 PM EST
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To: Claude Cormier who wrote (40984)9/27/1999 7:39:00 AM
From: Dan P  Read Replies (1) of 116923
 
Claude:

I was interested in your comment about the Dow Jones
and the gold market. I take it that your thesis is
that since gold and the gold stocks are coming out of a
bear market, that even if the Dow drops substantially,
that the gold stocks will not go down as well.

As you may know, Marantette has often stated that gold
stocks have a hard time going up, if the overall stock
market is headed down. I have argued this point with him,
in that he may be right about the recent past (say the last
15-20 years), but in the 1970's gold and gold stocks were
regarded as a bear-market hedge, and we may be entering
a period in which the older concepts may come to the fore:
i.e. gold stocks will follow gold and not necessarily
the U.S. market.

Maybe you could amplify on your brief note.

Regard

Dan
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