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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Bobby Yellin who wrote (16341)	8/21/1998 8:16:00 PM
From: Karen E Hoof	Read Replies (1) of 116786

hi Bobby...did you have a good early evening out.... You have brought up the new high in housing starts and permits...we went through that in the late 60's and into 1970...I remember well as I bought my first house in 1971...and everybody in my office thought I was crazy....as everything was in a downturn....well I think we are in that euphoric bubble of getting the new house before the market turns against us...they think their wealth in their IRA's is secure to just a 10% correction in the market....but those who could afford to invest have made a fortune in relation to the two past decades....this last ten years since the crunch in 87...has given paper returns unbelievable.... Now are they going to pull cash out of the market...and secure this new future that they are purchasing...or will they ride it down to their cash investment and loose all their gains from a bull market that is a once in a lifetime event.....because they don't want to pay taxes on their gains..... I must be in one of my darker trains of thought today....but I am so mad at our President!!! what I am saying is that this is the bubble in the housing market....and the turn can happen very quickly....because the Fed may come to lower the rates....but all Greenspan has to do is not add money to the markets...and he may draw funds out of the system....he has done this in the last 5 years.... karen The Housing bubble has topped...I think thats where we are...keh da da da da...I am seeing the big homes here at the Lake not moving...people have stopped buying that second home in this rich State of Microsoft..... the market dried up last summer....we are one year into a downturn out here...karen

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