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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: John Barendrecht who wrote (964)	7/30/1997 8:28:00 AM
From: Bobby Yellin	of 116759

wonder how many are holding stock in their iras or other deferred tax vehicles so the capital gains wouldn't mean much. this market is reminding me of the Japanese market..substitute the former hyperinflated Japanese real estate market(brought on by funny tax laws concerning selling the real estate)for the inflated Dow stocks brought on by the tiny yield for cds etc brought on by the FED flooding the market with liquidity and the Japanese etc buying the debt instruments up since their FED even provided lower rates. I am certain a lot of the tax revenue is from the government profitting also on the mania they have created in the stock market..paper from paper. Paper feeding on paper but people like Abby Joseph Cohen has tons of economic information and says the market is headed higher.. Gene Inger in one of his articles said he sees dow 15,000. Joe Carson who I also really respect said the economy is a lot stronger than people think and interest rates will tick up..not down. I think these new tax laws have benefitted the rich and the poor and once again the struggling middle class is left to its own devices. It seems as if it is made up of true survivals who work more for less and are happy they have work. Manias can go on for a long time. Wonder what the trigger will be? Maybe people will just get too tired?

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