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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: PSkars who wrote (369)	7/9/1997 10:45:00 PM
From: Dale Schwartzenhauer	of 116791

Good post Phil. What else can I add, except that I've seen several of these "out of favor" times for gold, beginning in 1970-71, 1976, 1982, 1984-85, late '92, and now in 1997. The signposts are always the same, and include a heavy dose of negative publicity. Take the US market and reverse the psychology; that's where gold is now. My only question is whether we get a sharp counter-trend rally or an extended multi-year advance similar to 1970-74 and 1976-80. We hope for the latter of course, but must be alert to the possibility of one more counter-trend rally before we get the real thing, IMO. Dale

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