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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.43

-4.5%

Nov 20 4:00 PM EST

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To: Ken Benes who wrote (48796)	2/10/2000 8:26:00 PM
From: long-gone	Read Replies (2) of 116764

<< First, the market does not believe the current prices are going to hold. Second, gold equities are held in such disfavor, that a more favorable environment for gold cannot attract investment dollars into the group. It is proving difficult to overcome the bre x debacle in 1996 and the subsequent scandals of that period followed by the realization that the forward selling by producers exacerbated poor market conditions.>> A 3rd is also possible, did you note the general action of the market the last many days? The DIJA was lower while a very limited number of NASDAQ were higher, with-out regard to any factor other than T/A of stock price! It is highly posible no sector will go any higher for quite some time! the fact there was any gain at all in the XAU under these market conditions, I consider a major WIN.

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