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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.29

-0.9%

Dec 1 4:00 PM EST

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To: goldsheet who wrote (42577)	10/10/1999 12:22:00 PM
From: Mark Bartlett	Read Replies (1) of 116790

Bob, <<All gold stocks (hedged and unhedged) are diverging from gold bullion. The market still doesn't make the distinction, and the statistical difference in performance between hedged and unhedged is insignificant.>> I think there are still a lot of disbelievers about this gold rally. If it maintains itself, eventually the disbelievers may be convinced and these unhedged companies may start to appreciate. In addition this rally appears much different than past rallies - in the past the biggies lead the way. Now, with this hedging issue in play, the market dynamics are skewed .... i.e., the usual indicators are giving mixed signals. In the end this may be a bear market rally or the real bull, beginning. My own feeling; there is something rotten in the state of Denmark (no offence intended to the Danes) - and we have a very chaotic situation, with nobody really knowing how the hammer will fall. MB

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