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Strategies & Market Trends : Fidelity Select Sector funds
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To: Angler who wrote (4659)6/26/2002 5:37:19 AM
From: MoneyPenny  Read Replies (3) of 4916
 
All sorts of forces are at work to keep gold down. I really don't get it... The market cap of all gold companies combined is miniscule when compared to large companies like Microsoft but the move in gold is very frightening to the large institutions and banks. After appearing to endorse gold investments, the Royal Bank of Canada has done an about face denying their discussions of recommending some allocation to gold.

I'll use this time to add some more individual companies mining gold and more CEF as well. I am also adding to the Treasury Inflation Protected bonds (tips) through PRRDX.

I never dreamed I would be a gold bug and I really do not consider myself one even now. I am sitting with lots of cash in all our investment accounts except my 401K which is new and so tiny it hardly makes a blip. At my place of work everyone is upping their allocations to large caps per the Smith Barney recommended allocation and repeating the mantra of dollar cost averaging although it has been averaging down all of the time I have been there (2 years). Most of my fellow workers have no other savings other than their ultramortgaged house and many tell me they are down 50 to 64% depending on their allocation in their 401k. They still are looking forward to the stock market resuming its boom. Sharon
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