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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

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To: Box-By-The-Riviera™ who wrote (59804)	10/14/2000 8:16:51 PM
From: Rarebird	Read Replies (1) of 116762

There's nothing wrong IMO in nibbling at certain Gold Mining Stocks Here as long as you have a long term horizon. Don't go into these gold mining stocks, Joel, and expect them to rally for you short term. You'll most likely become very disappointed. Be patient. Watch the currencies. Don't move to fast into these gold mining stocks. I don't think they've bottomed yet. The two best gold mining stocks IMHO are HGMCY and PDG. ABX is also very attractive here- though it is hated by many of the gold bugs on this thread- and I expect it to move lower here still. ABX will survive the Gold Bear. ABX will survive the Gold Bear. Don't ever forget that, Joel. Because ABX will be around to rally strongly when the Gold Bear is over. Forget about hitting home runs in the sector. Think about survival first. PDG will survive too and live to see the next gold bull. In regard to Gold, everything depends on the Dollar Index, Euro, Australian and Canadian Currencies. Gold is a Currency. The Reason why I continue to remain so bearish on Gold Mining Shares in general is the continued strength in the Dollar. You are better off waiting for the Dollar to break down then investing in these gold mining stocks beforehand. This thread is notorious for being absolutely wrong on a daily basis in regards to its predictions for the dollar breaking down. This is a bearish time period for Gold stocks. Wait IMHO. Don't rush to buy them. "True Asset Values" depends on the POG. The XAU just hit new all time lows. And the XAU usually leads the Yellow Metal. PS The Fundamentals are still horrendous for Gold. Wait for the fundamentals to improve. Don't rush it. It's been a Bear Market for over 20 years. JMHO. I'm not a short term trader in these gold stocks on the long side. And I can be wrong.

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