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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: Abner Hosmer who wrote (8709)	3/23/1998 6:34:00 AM
From: Bobby Yellin	Read Replies (2) of 116756

Hi- Actually you are the musician...I see the market as orchestrated... who the conductor is I am not certain...I think that is why a lot of wise people don't pay attention to try to call the market but instead look for undervalued stocks.. Have heard from more than a few sources that the future is in natural gas yet natural gas stocks have sold off as much probably as oil whereas natural gas price hasn't.. Have heard from many sources oil service stocks are in a long term upcycle..boy were they hit.. We have seen the pressures undergoing the tech sector pricing..up they go...also I think there is going to be a growing switch to network computers and webtvlike devices that should further hit tech earnings..even more competition... Somehow don't think the conductors will let the market tank until they have another group..ie natural resources ready to take off or else Japan etc... Frank Curzio of FX letter(?) who has a great track record is calling for oil to be 20 dollars a barrel next year...I just heard him on Bloomberg News... Just heard that GM is spending a lot more money on fixing year2000 A lot of those moving money these days are quite young and are trend or momentum followers...I don't think they care about fundamentals.. if they did..many would have lost their jobs for underperforming.. All sorts of forces are obviously at work..Haven't seen a study on the shortterm trading of computerized programs..There is probably so very much money out there hedged both ways which can move on a millisecond that probably adds some stability(I know that sounds really contrary..I mean stability in short run..in long term they will probably prove devastating to the market) Just heard welfare reforms in NY aren't necessarily working..29 percent of people off of welfare can't find jobs..I find it amazing that the crime rate here is going down...

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