Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Olaf Koch who started this subject	11/22/2000 12:13:53 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

The Yellow Dog is moving off the porch... ... allways beat the crowd to the party. Nearly every XAU/GOLD bottom has been of the explosive "V" variety - ie: if you weren't early - you weren't in cheap & instead of trying to catch a falling knife - you'll be trying to catch a lit candle... Five, or six 2-3 bagger type of rallies have occured in the XAU in the last 15ish years. The XAU stocks are now at "alltime" lows in valuations - the lowest price in the index history for $ per ounce of production & ounce of reserves. For Gold - there is only one question; if not now - when ? Today Bill Fleckenstein had this quote about sentiment in the XAU/Golds: << "At some point when the stock market busts loose to the downside and the dollar comes under pressure, gold is going to have its day, but it doesn't seem to want to happen yet. In my 20 years in this business, I don't think I've ever seen the depths of despair in any industry as that which we now see in the mining business. From all I can ascertain, the precious metals mining industry is more desperate and despondent than even the oil patch was when oil traded down to under $10 in the mid-1980s"> ...stock prices are fundamentally based upon the supply & demand for their shares - nothing more, nothing less and sentiment - reflects demand. Sentiment in Gold is at an alltime low and fundamentally; that affords opportunity. XAU/Gold stocks are vastly oversold due to the poor demand for their shares and this has not been the first time that the last rites for the gold miners was a bit premature. The XAU is very small - smaller than the OSX; the number of shares & available investment pool is very small. When, not if; the market reaches that "women & children first" level and when, not if; the US Dollar cracks - there will be a "demand" for safety, for quality and above all - demand for the oldest, strongest & most internationally recognized form of money in the history of the world - Gold. ... got it ? - "Gold" that is ~

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