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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (150446)2/9/2002 3:39:02 PM
From: Tommaso  Read Replies (1) of 436258
 
You could be right. But going short gold at this time might mean complete financial ruin.

I disagree with those who argue that gold production cannot be increased rapidly enough to eventually pull prices back to about where they are now. Since getting cut loose from the dollar, however, gold has had several distinct bull markets, each of which lasted from about eight months to three years. I think now that there is a distinct possibility of a run-up in gold prices at least to levels seen only a few years ago, until new production can get under way.

I wish to stay positioned in gold, and silver as well, believing that my likelihood of loss is limited, and that the possibility of considerable gains is much more likely.

At this point, however, my bear position AGAINST the equity markets is about four times the size of my stake in precious metals.
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