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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Louis V. Lambrecht who wrote (6746)	9/11/2002 5:19:13 AM
From: macavity	Read Replies (1) of 33421

$HUI/$XAU. $HUI contains mining companies that do not hedge. $XAU contains hedgers/non-hedgers and a couple of copper companies. The purer play on $AU is obviously $HUI. $HUI is the $SPX of the gold market, whereas $XAU is a bit of the Dow - it is mentioned, but really less relevant. From a year of trying to learn about being a gold bug, here is what I picked up. 1) The ones to look for are the pure exploration plays - I am not sure that there are any in these 2 indices. Basically, only the mad look for Gold in the ground given the 10yr+ bear market. I have no idea where to find them, it will require fundamental research - I do not like doing it, but if this is to be a multi-year bull market then maybe it may pay off. Basically these (pure-exploration) companies are very small-cap and highly illiquid. 2) Goldbugs are essentially mad! 3) This is the place for Gold FA and research mining-journal.com. You may have to subscribe. 4) Do not let your child date a GoldBug! 5)These are few links to GoldBugs (but useful as they do make you think) financialsense.com gold-eagle.com 6) Technically, these jokers may be onto something. Fundamentally, I have little idea and less regard for economic arguments and reasons, so I do not know. 7) I see good support at $AU=316-313; $HUI=125-120 I see a 3-8 day pullback to support then I think that we are going to take out the recent tops. Long AU, ABX -macavity -macavity

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