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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

4:00 PM EST

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To: Bobby Yellin who wrote (10923)	4/29/1998 1:41:00 PM
From: Wizzer	Read Replies (2) of 116762

Bobby, although many "experts" say the 2000 year bug is being taken care of, investors will be worried anyway. Any time the market is jittery or insecure there is the possibility of moving into metals for stability. I would not disagree with anyone who thinks that the 2000 bug will not cause a problem. The uncertainty will be enough to do the market in. I don't think it will be a wait and see what happens with investors. Even if North America is prepared, the rest of the world has been slow to react to this problem. In 1999, I would predict that Gold and other metal futures will start to rise, IMO. Central banks have stopped most of their selling and I believe they will re-evaluate gold and start stockpiling the "yellow stuff" again because it will be more stable than currencies around the year 2000. This will be an indicator that investors will soon follow suit and get into gold and other metals so we should all watch for this. We may see prices in gold and other metals that rival the late 70's early 80's run. As the precious metal futures start to rise we will start to see a slow movement out of stocks. Stocks that have revenue from parts of the world where they are not prepared for the "2000 bug" will get hammered. [I think Apple Computer may also be an indicator of the magnitude of the problem because their systems don't have the "bug": if it starts to soar in price....watch out] No matter what the experts say, I will not take the risk of being in stocks at that crucial point where I feel disaster and panic thinking will be the rule rather than the exception. Having cash on hand will create the opportunities of a lifetime, as anyone who has money to use at the time will be buying up cheap stocks like crazy.

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