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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.17

-7.0%

Feb 5 4:00 PM EST

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To: mark warburton who wrote (7592)	2/16/1998 6:30:00 AM
From: Mark Bartlett	Read Replies (1) of 116972

Mark, I agree with your sentiments ..... having been on the plus side of the real estate boom - I am lucky in that I got out before the ship sank. IMO that did a lot of damage to the economy because people were locked for years, into paying for assessts that were depreciating in value - thereby taking money out of the economy that otherwise would have gone into new appliances, cars, trips etc. If the scenario holds true for equities, what happens when everybody decides to bail into more conservative things to protect retirement savings? If we are into a bubble a la the Japanese, while it can be very profitable, it can be devastating to if you are caught leaving the sinking ship with everybody else. I think Buffett has the right idea - the market has wallowed for the last 6 months - while it _may be consolidating, my sense is it has more of a chance of going south than north ... basically it all boils down to a risk/reward issue. If it appears it is going to head north again, one can always jump back in. Thanks for your thoughts ..... all the best, MB

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