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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: goldsnow who wrote (5646)	1/11/1998 8:40:00 PM
From: Broken_Clock	Read Replies (1) of 116762

goldsnow, I agree with your asessment of the situation. ABX is a prime example.The recent retracement to 279/280 for gold brougt ABX back to the 16=/- level...HOWEVER, TA indicators on the stock indicate the actual bottom occurred in Dec. Selling has NOT reached the frenzy that DEC drop in gold brought on. I don't see ABX going down much further. Shrewd investors realize that the company is well hedged.With the cash they have, when gold rises, ABX will simply buy up companies to increase reserves that can be off loaded at unhedged(higher prices). All in my opinion. Dave.

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