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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: Ken Benes who wrote (54285)	6/14/2000 10:58:00 AM
From: Enigma	Read Replies (2) of 116759

I have no idea how old you are - but what we need here IMO is a change in sentiment to the effect 'we don't care how much you throw at us we'll buy it so keep it coming'. This is what happened in the late 70s early 80s with the IMF and Treasury sales - they were simply gasolene on the flames. I don't know if you were around then - but here was a great deal of fear and pessimism in the industry when those sales were announced - but the fears were groundless. So IMO if the gold price continues to rise in spite of the Swiss and British sales it is extremely bullish. I expect this comment will start the anti-hedging response from you from your cut and paste files - so be it - but today's action in spite of yesterday's reversal is interesting to say the least. And, lest we forget, these sales are within the parameters of the Washington Agreement - so should have been discounted already.

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