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Gold/Mining/Energy : Gold Price Monitor

GDXJ 100.15

+0.3%

Nov 25 4:00 PM EST

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To: PaulM who wrote (15462)	8/7/1998 6:41:00 AM
From: Bobby Yellin	Read Replies (2) of 116765

Hi- There was a series at a local Y where wall street people gave their views on the market. That is where I heard her and others speak..At that stage I didn't know much about the markets. I guess I was really dumb..I expected interest rates to rise since I thought a lot of countries would compete for money..oh well couldnt have gotten it more wrong :< Now I have a totally different view of market. I have now just started focussing on individual stocks that I think should show great growth in revenues..If the share prices don't appreciate,I figure some other company down the road will buy them out.. I guess that is why I am still bullish on a lot of companies that comprise the stock market. I can't believe that ABX hasn't started buying out a lot of the severely depressed gold producers..the easiest way for "exploration".. possibly Munk doesn't think the bottom is still in.. So many environmental companies are coming up with great earnings.. and I have been watching takeovers in that sector.. In one of Dohmen's articles he mentions all the money that coporate America has spent in acquisitions ..which frees up cash to return back into the market.. It would seem that the journalists today just focus on the momentum plays..with their "market" being probably fewer than 50 companies.. I wonder how many of the market players are momentum players and how many are investors? Wouldn't you think that the FED is still straitjacketed until there is a recovery in Asia? If so,wouldn't you think that interest rates don't offer investors a strong incentive to switch from equities to interest bearing vehicles..wouldn't that keep a floor under equities ..also this has been a rotational market for so long..self correcting..with sectors going in and out of favor..taking out extremes..that is another major reason I think gold is still a long way off before we enter a major bull market.. what do you think? (stream of consciousness post..sorry I am too tired to integrate it :>)

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