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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97
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To: David R. Schaller who wrote (295)7/4/1997 11:17:00 AM
From: tanoose   of 297
 
Hello David;

Haven't talked in a while, IMO we will have to endure the summer months before we see any clear sign of a direction for these jr's.IMO we will see a sideways pattern at best for the summer blah's.For now checking out the stats on the VSE, everyday we are still getting plenty of new lows,(very few new highs) untill we see a clear sign from the overall direction of the VSE, all we can due is keep our eyes peeled, because there are plenty of bargains to be had.A good signal would be three consecutive days of a decent upwards movement by the VSE, trend reversal???

Also a good firming up of the gold price would definintely speak volumes, although my feelings are we will see more weakness regarding gold.There are some really ugly signals out there pertaining to gold's direction.With these lows come new opportunities, but one must have a very contrarian point of view along with steady nerves, abottle of Mayalox would also help??

As regards to PFG, hang tough, everyone is being jerked around due to the markets psychology at the moment and the summer blahs. It is my belief that any good news from any of these good companies will be held off as long as possible to ride through all the market B.S. at the moment. Check out MSR, great news and the price drops, and they are not alone??

Of course all of the above is just IMHO!!

With regards, Frank

P.S. RYO is looking even better at this price??

P.S. Oh and by the way Hello Ron!
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