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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.75

-0.9%

4:00 PM EST

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To: Ron Wilkinson who wrote (12411)	5/31/1998 5:58:00 AM
From: Alex	Read Replies (3) of 116897

Hi Ron. I am not an economist and we are just chatting here. The next recession\correction may only differ in degree IMO. From what I have read the p\e on the S&P was just recently over 28, an all time high. Dividend yields, I believe, are at or near all time lows (at least well below the norm). Margin accounts are at 50 year highs according to a recent article that I've read. Ten trillion dollars in derivatives come due this year alone (talk about your crazy aunt in the attic). Should the trade imbalance ($\yen situation) be allowed to continue deteriorating, the end result will be magnified. The Y2K problem could be the smoking gun that either starts or prolongs the correction (this is totally out of my field - just parroting some of what I read.). These are just some of my thoughts on the current market and what may or may not cause a correction. All of it, or none of it, could come to pass. Regards

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