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Gold/Mining/Energy : Gold Price Monitor

GDXJ 112.58

-1.5%

Dec 15 4:00 PM EST

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To: John Soileau who wrote (55972)	7/9/2000 2:55:07 PM
From: Rarebird	Read Replies (2) of 116815

< Greenspan has pulled it off repeatedly> He pulled it off in 94 when the Dow was trading at approximately 1/3 the level it is today. The big wildcard to growth here is if the US stock market can rally during the second half of the year. <The economic disruption-gold relationship may have decoupled> What makes you say this? As long as growth remains strong and prosperity is abundant, gold will languish. I think you need to keep in mind that the average American with money is not following the daily or weekly fluctuations in the stock market as most people do on SI. My wife, for example, who is a certifiable Poly, thinks I am nuts for following the stock market so closely. She has been putting her money in the S@P for well over a decade and is completely unfazed by the volatility. She doesn't try to time the Markets and adds to her position religiously each month. I bring up this example here only because there are many more people like my wife in the USA than the day traders or position traders who look to get in ahead of the next advance/decline. I have many friends and family who invest and trade these markets. I said back in 97 and I will say again: The people who have made the most money in the stock market over the last 2 decades have been the non-professionals who just calmly dollar cost average into the market each month. You can curse at these people and call them what you will, but the fact remains that they have greatly outperformed all the wise men of the market with their high flautin charts and indicators. Yes, it is interesting and thought provoking to try to anticipate where the global economy is headed. The XAU seems to be saying that all is well for the moment.

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