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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: Harry K who wrote (601)10/26/1997 2:16:00 PM
From: Bruce   of 1348
 
Harry

I was rteading the Monday edition of Invester Business Daily. You made mention to the Swiss earlier and I didn't fully understand the comment, until I read the IBD. Then I understood what you were refering to. The analyst seems to think that the sharp drop was a case of nerves more than anything else. He said that the swiss couldn't move before 99 at the earliest and that it would have to go through their parliment first.Also he said after looking at their statement, the swiss never said sell, which led him to believe that the gold would be used for leases for those brokers who don't have the gold assets to back up demanded deliveries on option expiration day. So back to your original question I believe that the XAU will rebound somewhat, but to what level I guessing to 100. That would be a 6pt correction to cold feet. Any bets on what HK will do tonight when their market will open? I am expecting them to take another hit down. I'll go out on the limb here, but Ag and Au won't settle down until HK gets things stabilized. HK is the lagest dealer in the asian market of those metals. If the XAU doesn't move I might jump into Jan 105 calls to catch the rebound (hopefully), if not it won't the first time I lost money.
Well I got my chips and dip and I'm ready for the show.

Bruce
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