John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: MulhollandDrive who wrote (4871)	10/17/2001 3:02:59 AM
From: Yorikke	Read Replies (1) of 33421

Are you saying that "intrinsic" value will be what holds gold up in a deflationary, contracting economic forecast? Ms. Peel..First, I'm pointing out that gold is nearing the bottom of its technical cycles. Second I'm pointing out that PM stocks have moved out of their extended depressed state. Third I think that 'intrinsic' value is a very shady thing, but that financial instability moves gold prices and gold stocks up. I think we are pushing around the same chips here. I agree that cash is a nice place to have a good percentage of ones investment. I've been there for longer than I care to admit. But a certain percentage in PM stocks is a worthy consideration. It's not gold, but businesses founded on production of gold and related value metals---long depressed and now attractively valued--especially if the price of gold and other PM's begin to rise, which is technically indicated. Will this happen in a depressed market? A very tricky question. Historically PM's need a good economy to perform well in their up cycle. But if the dollar begins to crumble...then just holding value in terms of other major currencies will be 'profitable'. Cash is usually dollar bound. Gold is less loyal in times of crisis. It appears neither you nor I are mamboing. Such a shame as I'm sure you'd be the life of the party. But it does seem to be the FED dance interest of the day. That and getting all the governors to run around saying the dumbest things central bankers have muttered in at least eighty years... But I'm unpatriotic I guess.....I can not seem to understand that my duty as a good American is to take out a second mortgage, charge up my credit cards to the max, and buy an SUV. (What happened to the story my kindergarten teacher told me about the grasshopper and the ant??? Where did she go wrong? How can the grasshopper be the hero with all that yukki stuff it excretes from both ends of its consumption canal? Guess we need to go to the fed for an answer to that one.) It makes me reevaluate the definition of a dangerous biological organism. I'm more afraid of the FED governors and FOMC than any white powder on an envelope that arrives in the mail. by the way....I posted that portfolio of gold stocks on the thread more than 8 months ago, its not something I recently made up. The prices were entered real time . I claim no credit there, just pointing out that this 'strong' gold producer' portfolio is an accurate representation of the movement in the industry over the last 10 to 11 months or so. If these were chip stocks many more would be ooggling and ahhing. It shows the general depth of the delusion.

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