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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

4:00 PM EST

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To: Tom Smith who wrote (59554)	10/9/2000 5:03:40 PM
From: SliderOnTheBlack	Read Replies (3) of 116753

HM up 7%, SWC up 14%, NEM up 3%, XAU up... trend broken at least. Lets not forget; the Gold Bugs can & do "Tax Loss - Sell"... Gotta be a buyer here; but also have to be prepared for XAU 40-43 worst case scenario imho. Low $4ish HM ? $3 GOLD, $4ish HGMCY & $15 NEM ? - gotta be a buyer... Wouldn't mind some SIL in the $8's again either. PS - $1 DROOY surely beats the slots, the track and lotto tickets (VBG). Bob Brinker this weekend said the market is merely in the "Anxiety" stage & hasn't reached the "Capitulation" stage - not even close yet, to reach a market bottom - I agree fwiw. Throw in what Fleckenstein picked up on today - the rumblings of a "1987 junk bond redux" - ie: <<-- Household International (HI), MBNA Corp (KRB), Capital One (COF) and Providian (PVN) all got smacked hard for no proximate cause that I could see, other than rumors about a couple of brokerage houses having problems in the junk-bond market (1987 redux?). >> I still say this market is vast overvalued - still a blatant mania-bubble; it's a bubble - it has to be; untill we no longer see one day 50% market cap haircuts for .02 cent earnings misses - hello !?!?!? - it's clearly a bubble... 1. Short the bubble 2. Ride the Black Gold highs & rotate to 3. The Yellow Gold lows...

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