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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

4:00 PM EST

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To: long-gone who wrote (64427)	2/25/2001 7:17:56 AM
From: sea_urchin	Read Replies (1) of 116943

long-gone: <How long wa it before it recovered in the 70's?> The 70s were different --- there weren't IT stocks in those days. The big problem was with oil which was used as a "weapon" against Israel and the West by the Arab countries. The big market crack was in 1974 but prices were restored to previous levels in 2 years. In the 70s the market seemed to run in a trading-range and there was no growth trend in the Dow from the late 60s through until the early 80s. After the fall in 1987, prices were also restored in two years. <Some are saying it may be more near 5 years> Certainly, for the Naz, that could be because many companies have ridiculously high PEs and are trading on dreams rather than on earnings. I think many investors are going to be hurt, if they are not already.

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