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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (12056)5/9/2002 10:29:59 PM
From: TrueScouse   of 36161
 
Frank:

Your policy of rotating funds from what you see as the more expensive stocks into the lower-valued sounds very sensible, as long as you're maintaining a reasonable exposure to the pm sector -- which I'm sure you are!

The key point Paul Matthews is making in that article is that neither the XAU nor HUI are overvalued in terms of the current POG when viewed from an historical perspective. And certainly when you look at the long term charts of many of the better juniors, you see that they have a *long* way to go before they get anywhere near their highs of 1996-97.

If this is the "next gold bull", then I would expect it to last at least 3 to 4 years -- and we're only 1 year into it. We'll have to have nerves of steel at some points during that time. I remember quaking in my boots in 1979-80! :^)

Regards,
Howy
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