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Gold/Mining/Energy : Gold Price Monitor
GDXJ 101.44+3.5%Nov 12 4:00 PM EST
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To: Crimson Ghost who wrote (5579)1/10/1998 2:47:00 PM
From: mark warburton  Read Replies (3) of 116756
 
Excellent forum! My compliments to all that post.
so many questions and hypothesis. Bailouts, debt restructurings etc. etc.
IMHO when in doubt look to those whom know or have shown a canny ability
to be a lot more right then wrong.
Peter Munk of American Barrick is one man with the midas touch so to
say. He foresaw this gold price drop a long time ago and took the measures
to ensure profitability through out it.
Now he is buying back shares in what he calls an undervalued stock, ABX.
The cardianl rule of investing buy low sell high or invert to sell then buy.
For wahtever reason causes the turn around, be it short covering or
whatever, a turn around is near. Mr. Munk will first buy back his stock, then
his next logical step will be to cover the short positions. This will probabaly
be the most important indicator we will see. Mr. Munk is more informed and in
tune with the POG then we will ever have the luxury to be.
Not that one should follow like a lamb to the slaughter but his knowledge will
take into account and discount all scenarios and information available.
Also the man poses considerable clout with CB's investment houses and the financial
community at large. Watch his actions closely, for he will be one of the first to
lead the POG north.
IMHO
Mark

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