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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

Nov 10 4:00 PM EST

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To: bobby beara who wrote (55215)	6/26/2000 11:10:00 PM
From: Rarebird	Read Replies (2) of 116753

Bobby, the money that is coming into the stock market on a monthly basis from 401K's is up against massive insider selling in tech stocks, along with tremendous institutional selling. No one in their right mind would invest in equities as profit margins become squeezed, inflation accelerates and growth dramatically slows. I encounter many of these people who make their monthly contributions on a daily basis. They do it because it is a habit (sorry for sounding superficial) and they don't know what else to do with their money: they are completely drugged into thinking that the stock market is a continuous money making machine and they think the government will do anything (sorry, Richard) to preserve and enhance their wealth. Boy will they be shocked in the next couple of years. There is no talking to them: they talk in such an euphoric manic manner that has traditionally been associated with tops. As you know, I was insanely bullish myself for quite a while. But as business conditions worsen, the money will be coming out of equities into other attractive investment vehicles. The bottom line is that the Economic Cycle has not been repealed.

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