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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Gabriela Neri who wrote (8298)	3/13/1998 10:31:00 PM
From: Casey	Read Replies (2) of 116788

Gabriela: <<Y2 problem is a Yardeni favorite but it creates the kind of chaos that would spike up gold in a serious way, then look out. The short S&P position may be a better way to capitalize on that disaster.>> I'm beginning to believe that gold is not going to be considered the refuge from chaos that it once was. Can't say exactly why I feel this way, but it has something to do with the consistent "the sky is falling or going to fall - buy gold" prophesies that I have been receiving from a bunch of investment gurus over the last 3-4 years while the stock market keeps surging and gold keeps dumping. S.E. Asia currency crash, Japan credit crunch and Y2k scare the hell out of me wrt their potential impact over the next 3-18 months or more, but I just can't quite yet convince myself to switch my portfolio into gold or gold based investments. I'm more comfortable with money market funds and natural gas plays at the moment, plus some silver stocks. I must admit that I am warming to your suggestion of going short the S&P. I've sent for some information on a fund which plays the short side of the S&P. I'll post again when I receive the info.

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