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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: TATRADER who wrote (44670)	11/7/1999 7:39:00 AM
From: Richard Mazzarella	Read Replies (2) of 116762

TAT, <<XAU was undervalued to present price of POG>> Maybe this is helpful: Message 3879730 . IMO since the XAU is based on miner's stock, and given no fundamentals to evaluate, the divergence suggests that either gold is overvalued, or the XAU undervalued. However, given fundamentals I think that the XAU is properly valued. POG has been so erratic that anyone investing MUST bet on the POG lows to win. Also, the major's hedging limits their potential profit on any new POG highs. Why buy a pig that lost its way? IMO that's the divergence in a nutshell. Happy trading.

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