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Gold/Mining/Energy : Gold Price Monitor

GDXJ 115.10

+1.1%

4:00 PM EST

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To: Peter Neidhardt who wrote (11516)	5/11/1998 4:44:00 PM
From: Crimson Ghost	Read Replies (1) of 116836

Impact of a stock drop on POG depends on how far POG has risen by that time and the reasons for the correction. The higher POG goes, the more vulnerable it will be. A stock market correction because of fears that AG might hike short rates probably would be bearish for POG as well. But a correction because of year 2000 concerns, middle eastern war, sharp drop in the dollar, or surging bond yields probably would be bullish. My take is that stocks will not go down for the count until POG is a lot higher. I see little risk to POG from a stock correction -- whatever the trigger -- at these levels.

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