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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.01

+2.8%

Nov 5 4:00 PM EST

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To: Ahda who wrote (74384)	8/2/2001 11:02:29 PM
From: Rarebird	Read Replies (3) of 116752

At this stage, the one facet of the economy that's been hanging in is consumer spending. The ongoing strength in the job market has helped keep that going, but consumers have been slowing their rate of spending in recent months as more people are out of work. It is worth noting that Greenspan is no longer concerned that a breach of consumer confidence would take place and cause the economy to spiral into a recession. But consumer confidence has declined in recent months, and a worsening job market is a heavy part of that equation. If jobs are shed, demand will continue to erode, and the economy could be facing more trouble in coming months. For now, 95.5% of the labor force is employed, and wages are rising, even as companies endeavor to cut costs. The Housing sector cannot IMO continue to be strong as unemployment rises. A unique short selling opportunity is coming there in September.

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