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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.30

-0.5%

Dec 12 4:00 PM EST

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To: Ken Benes who wrote (72396)	6/26/2001 11:32:13 AM
From: Zardoz	Read Replies (3) of 116814

However, the dismal psychology around gold has devastated the gold equities, limiting the profits of all but the most adroit traders. Bull. Anyone can trade this gold market, and with limited risk. You should be jumping on the short side, call side writing ever time the POG marks a short term top. You could {yes you could} even spec these gold stocks long every now and then.... but why? Over valuation is much easier to spot then under valuation. But like the rest of GPM you aim to make excuses, or point fingers for blame. It is barrick along with the bankers who developed the intricate derivatives strategies that provided artificial supply to the gold market. Crap... Barrick in their wisdom seen the CB or Eruo-land getting ready to disinvest much of their holding... So why not be true capalitist and make a tidy profit from what is enevatable... You expect ABX to buy gold on the spot market and put it back in the group? No. As a side effect of reality, the POG falls over years... and thus those companies illequiped to handle such downturns become food for the gods. But hey, we always have that NEM crap for you Yanks to buy... little do you know unless you look at their balance sheets that NEM is held up by AIR. The hedge book for ABX is moot, you have to see a reason for the POG to rise. And there is no reason as of yet. $250 is just more likely then $350... Hutch If you own HM, why not write the Jan 2002 $7.50 calls for $1.40 and make some money for a change?

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