Anyone follow ASA on the NY? Message Board

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Strategies & Market Trends : Anyone follow ASA on the NY?

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To: ED_L who wrote (9)	8/12/1997 12:33:00 AM
From: Dale Schwartzenhauer	of 15

They could be right, but my question would be, insurance against what? Options are notoriously fickle methods of participation; they can work out great, or be a large 0. There are, on the other hand, several methods of implied participation that don't have the same all-or-nothing characteristics: low-priced junior gold producers like BGO and GLG, and further down the scale, some penny exploration golds like MWR @ C$0.13 & BDE @ C$0.26. My only problem with this rally in gold is that the "wave counts" are 3's rather than a bull market's 5's. It's noticeable in everything from precious metals to the XAU and ASA. So the indication is another test of the lows, and probably new lows first. In that event, I'd rather own the issues that have some basis besides a commodity play. In the final analysis, they tend to do better on the upside too. Best regards, Dale

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