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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

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To: PaulM who wrote (4583)	12/21/1997 6:04:00 PM
From: Bobby Yellin	Read Replies (2) of 116811

some questions..I thought that there was deflation in the metals etc because of Russia's previous dumping of all their commodities to raise money..(also told by a very bright source that russia still has tons of gold to dump when necessary..I find that hard to believe but sometimes(often) my brand of logic doesn't work.). anyways..the question..with this supposedly huge worldwide rebuilding why are the commodities so cheap..I would have thought that all that dumping had been absorbed into the market a few years ago....and now with this apparent slow down around the globe..why the play in commodities...I really wonder if perception totally drives markets..and once the word is out that some respected contrarians are bullish on these commodites that one would think to be tied to economic prosperity...the price would start going up..or are they bearish on the dollar and think the commodities would become more desirable even if SE Asia is currently sinking into the beautiful Pacific..for at least a moment.. it sort of reminds me of oil..and oil service stocks..somebody yells fire and then they take off and up up and away..nothing gradual...especially during this global rebuilding.. I enjoy reading your posts and most always say boy am I glad he wrote that... bobby wonder if this contrarian play is based on the idea that paper assets are in their final blowoff stage and people will to have hard assets that the current central bankers can't threaten to dump...better some copper even if building might be slowing because at least one can have some pennies? if the governments start reinflating..how fast can everybody get out of their long bonds ... also I have seen it before and I guess I shall see it again..everybody is saying that long bond will go lower..finally we have reached the point that the Japanese might start dumping...and the herd still follows......wow...

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