Lightning, gold is blazing right through all doubts and resistance.
By the time the Internet folks decide to get into it, NEM
will be 40.
The dice is cast
They cannot keep the POG down any more.
(" They " is everybody who did that in past 30 years ).
I believe the ECB has declared their independence from
the dollar as world wide currency.
The Euro may be another one but it is very weak.
The 3rd world will now slowly move towards gold if
not as a back up at least in their safety boxes.
As the US dollar loses value by the day there is nothing that
can be done to prevent POD from going up.
The Fed cannot sell gold. Any gold sold now I think will be
picked up at current prices by everybody who has a hedge
and so the supply will quickly dry up.
Gold will be up there before anybody is awake for coffee.
I will keep averaging upwards and downwards and adjusting
my portfolio.
Got to run,
later,
TA
Message #42746 from Lightning at Oct 12 1999 7:25AM
To all: XAU may have had a good move yesterday because the masses read in Barron's over the weekend that they could have made 40% in gold mining stocks in a
month and the stuff they own went nowhere in the third quarter. So the Johnny-come-latelies put in buy orders for BGEIX, FGLDX, GOLDX, USERX, etc. Lo and behold,
the fund managers don't like to sit on cash, so they bought some gold mining shares. Would-be-sellers also got greedy, so on the margin, the price of these stocks went
up. Stochastics still indicate that XAU and POG are over-bought, so I wouldn't read too much into a one day move. |
