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To: pater tenebrarum who wrote (81279)	12/27/1999 11:23:00 PM
From: re3	Read Replies (3) of 86076

from gold minnning outlook .com KAPLAN'S CORNER: QUESTION: Why did you not recommend purchase of gold mining shares when they bottomed in mid December? ANSWER: I believe it is likely that both gold and its shares will make a final, deeper bottom in the first quarter of the year 2000, quite possibly in early March. There are too many events that have not yet transpired which are likely to lead to a final drop in the price of gold: a final commodities selloff, led by crude oil; a final strong accumulation of gold by commercials when the yellow metal makes its final move below $280 (and quite possibly below $270); a much lower bullish sentiment reading on gold from Market Vane, probably under 20%; a final wave of selling by those who jumped on gold's bandwagon during the early autumn spike; the realization that Y2K did not amount to much after all; the typical decline in gold shares that accompanies the earliest stages of a bear market in U.S. equities; the typical decline in gold shares that accompanies the earliest stages of a rally in U.S. Treasuries; and the completion of the final right shoulder around 58 in the extended bullish reverse head-and-shoulder pattern in the XAU.

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