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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.90

+0.1%

Dec 4 4:00 PM EST

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To: Wizzer who wrote (15720)	8/11/1998 10:16:00 PM
From: Broken_Clock	Read Replies (2) of 116795

Wisam - "I am beginning to believe that people cashing out of the stock market, are keeping their cash instead of reinvesting it elsewhere. Perhaps, they are waiting for better opportunities, perhaps not. If there is no move up in the POG over the next few weeks, I think there should be concern." I suggest you read John kaplan's gold site if you're not familiar with it. It appears to me that two factors are influencing gold. 1)Strong dollar is holding price down 2)CBs and speculators are short gold at least 8,000 tons. Per Kaplan, commercials are LONG gold at near historical highs at Comex. When gold does go(when the $ goes), it will go up so fast most will have missed the move. THEN buyers will be all over gold stocks. As one analyst stated on WSW, "I like gold when it hits $300". They are waiting for a trend reversal then they will all jump on board.

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