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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: Alex who wrote (5218)	1/4/1998 4:42:00 PM
From: Terry Rose	Read Replies (3) of 116753

Alex. Once again you have provided us with an instructive link. Here's what I got from the article. The currency crisis in these Asian countries surprised their inhabitants by the speed of the decline and the amount of peripheral damage from the currency decline. They did not see it coming due to the mania of the good times beforehand. Credit was easy and the good times were rolling, and then poof day had turned to night. Speaking of easy credit, if I get another application for a preapproved credit card, I will scream. Have you noticed the latest commercial with Dan Marino where you can get 125% of the equity on your home on credit, and they will approve it during the call. Give me a break. When the U.S. has it's own liquidity crisis due to all this debt, I plan to do some bargain shopping at the resulting nationwide garage sale. Until then I plan to remain in gold assets to protect my working capital from either inflation or deflation. In the last issue of the Wall Street Journal, there was an interesting poll of some 30 economists.Only one of them predicted that the 30 year Treasury Bond yield would be below 6% at the end of 1997 from their predictions made in mid 1997. As far as the end of 1998, they mostly predict the yield will remain below 6%. Based on their track record it looks like 7% is a lock. Their predictions on the dollar yen ratio are all over the map. I primarily subscribe to this periodical to get contrary indicators, and trade from them. I get the feeling that they think that the Asia crises is in the mopping up stage, and that it was a temporary setback. Or as our fearless leader said "a glitch in the road". We will soon see.

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