Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) Message Board

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Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM)

AEM 167.68

+0.7%

3:59 PM EST

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To: Robert J Mullenbach who wrote (1163)	9/25/2000 10:01:07 PM
From: Roebear	Read Replies (1) of 1612

Robert, Some thoughts from the Privateer, but in my own words: The Euro intervention had less to do with the Euro and more to do with the US stock markets. Looking at all that red ink painting the markets from Asia to London on Thursday night, the Europeans said Uncle (SAM) and OK'd what amounts to a new higher credit limit and upgrade to platinum on the US GLOBAL CREDIT CARD. Including the trade and current account deficits and the paper dollars in circulation outside US borders, the US owes foreign investors a current amount equal to over 70% of GDP. End Privateer Top this off with a domestic credit expansion nonpareil and a negative savings rate. There is no way they are going to stop this train, its going to take out the bumpers one of these days. They will fight it tooth and nail but whoever wins the election is going to find themselves in the cab of a Runaway Train. I consider the current market so risky that I have reduced my exposure in oil and gas, even though the fundamentals are great and I am forecasting a cold NE/Mid Atlantic winter. I have increased my AEM holdings today. Currently I am about 30% energy, 45%gold stocks and 25% cash. There may be considerable upside to the energy stocks, but I believe that the US will do all it can to maintain lower energy prices going into the elections. And of course they are keeping a choke hold on gold + silver. But all that oil getting on their hands now is making the grip a bit slippery. One great indication of that slippery condition was the Euro intervention itself. I will admit that I am being somewhat cautious in my current position. Vacation time is coming for me and I do not want to be tied down to the market when I want to go wherever whenever I want. Just don't conclude my occasional absence here means the Golden Bear got me. As a matter of fact I've got my Bear License this year and La Longue Carabine; I'm going to get that Golden Bear! VBG Roebear

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