Precious Metals mutual funds (gold, silver, PGMs) Message Board

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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)

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To: Dan P who wrote (597)	10/14/2001 10:02:10 PM
From: Larry S.	Read Replies (1) of 972

Dan, et al, I agree that it doesn't look good for the DOW or the broad market; though a bear market rally appears in the cards. The growth rates of the 90s are probably history and the stock prices need to back off a bit for the PE ratios to be consistent with a reasonable rate of growth, even if we don't drop into recession. However, PMs could be exceptions. The DOW/POG ratio chart (http://www.financialsense.com/stormwatch/images/1012/dow_gold.gif) posted on the GPM thread suggests we could be in for quite a ride. The latest GMI/POG ratio, documented below, doesn't support this view but the drop could be the step backwards in preparation for a jump - just a dream? FWIW, I didn't notice any significant mention of PMs in Barron's this week. The GMI/POG ratio: On 10/11, the Barron's GMI was 296.82, down from the previous week's value of 319.50. With the POG also down to 281.80 (10/12), the ratio was unchanged at 1.05. The ratio a year previously was 0.86, essentially an all-time low. Cheers, Larry

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