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Strategies & Market Trends : Coming Financial Collapse Moderated
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To: rails99 who wrote (511)7/18/2001 2:29:08 PM
From: pater tenebrarum  Read Replies (2) of 974
 
thanks for the info on the NatGas stocks. i agree that October will likely be a rocky period this year, and thus provide us with buying opptys. cycle wise i'm looking for an important low to occur in late Oct./early Nov. this year.

regarding gold and silver, my position is that i'm long the sector, in spades. i would recommend looking past the current weakness in silver - what is more important is that the commercial long position, and conversely the spec short position is near a historic extreme, suggesting the low is near. furthermore, we have just had a new low in silver unconfirmed by gold - a situation frequently observed at turning points. as to why PAAS is so strong, there are two main reasons: a) it has recently doubled production by starting the Huaron mine, a low cost silver & byproducts mine in Peru. and b) Bill Gates has recently underwritten a private equity placement by PAAS, which has removed concerns about its liquidity, as well as being seen as a continued vote of confidence in the company.

my plan is to stay long the sector until my fibo target of $350 gold is reached. at that point, i'd be inclined to take profits and adopt a wait-and-see stance, with a view toward possible re-entry at lower levels.
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