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Strategies & Market Trends : Strictly: Drilling II
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To: Crimson Ghost who wrote (25909)1/17/2003 3:24:37 PM
From: Broken_Clock  Read Replies (2) of 36161
 
An interesting view George. here's some thoughts on that-

If a sharp correction is in the cards, I find it hard to see just how far down it can go. PDG(my fav) is at 11ish. It has refused to drop below 8 all through this gold bear. XAU is 75ish. The low was 45. I find it hard to believe that the xau can drop too far with earnings looming. Take FCX for a prime example. They posted 41¢ for the quarter. No too shabby for an $18 stock in this market. Even at Andy Smith's $330 call for year 2003 gold, FCX would make about $1.60 which is P/E of 11 or so.

So let's say the market is telling us something different from all prognosticators...that is, that gold will drop through the floor. That is big time deflation which is hyperinflation for the US dollar. That is one scary scenario. Greenspan is fighting that tooth and nail.

Anybody else want to step in and guess what's up?
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