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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.75

-0.9%

Jan 21 4:00 PM EST

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To: Terry Rose who wrote (11098)	5/1/1998 11:18:00 PM
From: Richard Mazzarella	Read Replies (1) of 116897

Terry, we also saw the chart posted on this thread where mutual funds have the least amount of cash ever. The utilities are also diverging from the DOW, a potential sign for a significant decline, not just another buy the dip correction. The problem for us gold bugs is that a serious decline takes everything down except funds that short. I still think that the potential for gold appreciation will require a currency crises of some sort. Pull the plug on this market and that process begins. It could start with margin calls. If it wasn't that it will hurt our neighbors that have been told the stock market is safe, it will be fun and interesting to watch it all unwind.

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