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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

4:00 PM EST

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To: Bobby Yellin who wrote (4877)	12/29/1997 8:32:00 AM
From: Jack Clarke	Read Replies (2) of 116764

Yes, Bobby: Many of us who post on these threads feel the same way. Those peach-fuzz money managers don't seem to care about anything but momemtum. After all they haven't known anything else. As I mentioned before, try to explain history or fundamentals, and their eyes glaze over. But on the other hand, I (and many others) have been the poor "thinking men" who have missed out on participating in this giant bubble and have missed the profit opportunity of a lifetime. Some (in my opinion the smart ones) have rung the cash register and put the profits into something safe. Now that we have missed the bubble expansion, we spend a lot of time throwing stones at those who are still in it. Best we can hope for now is a rapid return to reasonable valuations so we can buy back in. I'm still putting some money into gold stocks and trying to play the short end in a limited way, a few put spreads on the OEX, for example. But I'll be the first to admit that the other side has won. Globex spoos are up 7.4 as I write and the bonds are up a tick or so. Best regards, Jack

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