MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: Jorj X Mckie who wrote (57003)	7/22/2000 8:28:21 AM
From: Roebear	Read Replies (1) of 99985

Jorj X McKie, RE: bought NEM and PAAS today since the metals are so out of favor. It almost takes guts these day to buy gold/silver stocks. It's like one of those things you might have nightmares about that someone would find out and put a sign on your lawn "Jorj ACTUALLY bought gold stocks yesterday!" making one the 'laughing stock' of the neighborhood. I believe it is the ultimate contrarian play in this market at this point. While the XAU looks set to test its major support at 48.68, and it may rend even that, it will rally and the harder it falls the more it will rally. When may relate to the elections and other things that are harder to put on a timetable, such as when people realize that we do have inflation or when investors wake up to the fact that there are way too many Joe SixPacks in hock up to their earballs. I believe in case of any near to midterm market correction, gold/silver stock investors will be jumping out of first floor windows while the rest of investors will be jumping from the tops of skyscrapers. Conclusion, dead money for awhile, but rather safe with a very nice return likely, sometime. Best Regards, Roebear

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