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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: Scott Wheeler who wrote (5956)	5/14/1998 7:57:00 PM
From: JACK R. SMITH JR.	Read Replies (1) of 14226

Scott, Yes, WOW, Palladium above Gold--Can you believe this market. It is truly crazy and you and I should expect a correction of this out of whack situation. Be it by the Russians or (more hopefully--long, long, shot by some out of favor DD--Just wishing), it will happen. Just the way markets work. I have been wanting to short Palladium for some time, and if I had I would have been killed. It is also a relatively thin market, and I try to avoid those. They can go lock limit against you and you better have big old deep pockets to pay the bill. Rest assured that market excess will be dealt with sooner or later!! I am just surprised by the extent of the excess in palladium. That makes the Oro Grande content o.128 opt x 162,000,000 tons worth about 7.8 billion at todays prices. Worth going after for sure. Too bad they are stalled at the starting gate!! Well, Good times to those who are young and have new wives and old wine!! Wino, Jack!!

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