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Gold/Mining/Energy : Gold Price Monitor

GDXJ 136.03

+6.2%

Jan 20 4:00 PM EST

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To: Bobby Yellin who wrote (12375)	5/29/1998 8:07:00 PM
From: Abner Hosmer	Read Replies (1) of 116895

Hi Bobby, I'm not convinced of that. And besides, how long does it take to turn an oil tanker? I read somewhere the other day about a buildup of inventory in select sectors, but the economy is growing nicely and people are spending. The primary mistake of those who have not reaped the rewards of the bull has been to focus on historical precedents rather than on the essential background "ambience" or environment in which the markets trade. I view the possibility of an upward "crash" in the POG as being remote. And if it does happen, I think the first rush will be the best selling opportunity for some time to come. At least, those with the power to move the market through their sales will see it that way. There is plenty of oil, plenty of copper, plenty of labor, plenty of industrial capacity, plenty of depressed producers, plenty marginal gold deposits. Tom

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