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Gold/Mining/Energy : Alta Gold

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To: Francois H. Gaston who wrote (647)	7/23/1998 11:22:00 PM
From: Francois H. Gaston	Read Replies (1) of 749

Oils:..... rebound probably coming as these companies are getting cheaper and cheaper... DOW could go down to 8600 by next week (just IMHO) as the market has to take a breather and also because MFs are generally low in cash (4.5%) and have to raise some cash in case some individual investors are deciding to "preserve" their 1998 gains... ALTA and POG held very well (IMHO) while the XAU sold off. Why did the XAU sell off while some minors like ALTA stayed up? One possible explanation for this XAU sell off is that the HUGE index tracking mutual funds (such as Vanguard 500) had to sell equities indiscriminately today (to mirror the SP500 index)... and because some of the Majors are part of the SP500, those took a beating... Just a thought. Friday and next week will be fascinating. We will see what POG and ALTA will be doing... Will gold regain some of its shine?... Who knows! Majors are probably going to drop in the morning and the afternoon will be very interesting! FHG

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