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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: Claude Cormier who wrote (2972)	2/5/2002 12:06:19 AM
From: Little Joe	Read Replies (1) of 4051

I sort of agree with you. Many gold stocks have gone parabolic. They will not be able to sustain this rate of increase indefinitely. They will have to correct at any rate. But many stocks have broken out or are very near to breaking out of multi year bases. I believe that this is just a harbinger that gold will follow. The gold stock charts are just incredibly bullish. I just don't see them doing a serious reversal. This reminds me very much of the summer of 1982 for stocks. The greatest bull market in history was beginning and my stockbroker was telling me to take profits. I am wildly bullish on golds and am prepared to buy on any good dip. I could be wrong, but if I am the charts will have to look like something I have never seen before. What bothers me is what this could portend. I can't see the future, but the fact is that gold seldom goes up in good times. We must own gold to protect ourselves, but I would rather see a strong stock market which is good for everyone than a strong gold market. By the way several stocks and indexes had breakaway gaps on their charts today. Like I said this is the beginning of a biiiiiiig move. Little joe

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