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Gold/Mining/Energy : Gold Price Monitor
GDXJ 92.99+2.9%4:00 PM EST
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To: long-gone who wrote (73485)7/16/2001 12:01:53 AM
From: Rarebird  Read Replies (3) of 116753
 
<That was the most recent micro trend, can you assure it will continue?>

Of course not. But isn't that the point? There are no assurances either way. There is no assurance that investors will flock into gold stocks if there is no economic recovery in 2002. What assurance do you have that the U.S. would not sell some of its gold reserves like the BOE if the economic situation here turned into another great depression? What assurance do you have that Congress would not vote to have 90% of U.S. Gold Reserves sold if a money default or major derivative crisis came about here? What assurance do you have that the majority of U.S. citizens would not vote for the sale of U.S. Gold Reserves if it was placed on the ballot here and if the President, Congress and the whole media argued on behalf of it?

Gold is only a means to an end for the people who are in power in this country, whether they be Republican, Democratic, Liberal or Conservative.

No. There are no assurances either way. Alot depends on how the European and Asian economies fare in relation to the U.S. economy. I'm sure you are aware that foreigners are up to their neck in U.S. Treasuries to the point of no return. Whether you like to hear it or not, their economic fate depends on the direction of the U.S. economy. Foreigners only affirmed their allegiance for the Dollar while the Nasdaq fell 68% from peak to trough. There is no assurance that they would sell Dollars if the Nasdaq fell another 68%.

As you know, I sold my ABX puts on Friday heading into option expirations week. It should be interesting if lightening will strike for the third month in a row for the Gold Stocks on the upside this week.
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