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Gold/Mining/Energy : CORNUCOPIA RESOURCES CNP.t
CNP 39.00+0.3%3:59 PM EST
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To: Ed Fishbaine who wrote (142)3/16/1998 7:12:00 PM
From: Steve Hegji   of 336
 
Ed

I've posted once or twice before on this thread. It doesn't seem to be a very active thread, although the stock itself seems to trade at higher volumes than some other stocks I follow that have a lot more "discussion" activity. Maybe the "discussion" action on this one is somewhere other than SI.

I'm accumulating the stock at these levels too. Your arguments seem mostly sound to me - from what I've gleaned over the last two years. However, I do worry about what might POWER the price of gold (POG) up a notch or two. The flip side of the coin is what might cause it to drop. The argument about market forces preventing a drop in the price is certainly interesting - but it cuts both ways. The same argument can be used to show why the POG will not rise. Yet it sometimes does.

Personally I think GOLD is such an emotionally charged investment that it's movement outside of a range that is determined by supply and demand is driven by investor sentiment and can be explosive. The question is when will the next upward explosion be? From my engineering training I still tend to think of the market as an oscillating system. Like a little child on a swing, the right push will increase or decrease the swing. IMO the efforts being expended right now to prevent a world wide deflation will result in some inflation later - with the concomitant increase in the POG.

Wars and political upheaval? To be cliche, don't go there. I don't wish that on anybody - especially just so I can make a buck. The normal business cycle is enough for me.
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