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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Peter V who wrote (13237)8/29/1998 12:29:00 PM
From: Kevin Podsiadlik  Read Replies (1) of 18691
 
No one is buying gold stocks, if the GOX and XAU are any indication. In the past five weeks the XAU has gone from 71 to 51 and the GOX from 51 to 33. On the market's "blow up" days the precious metal stocks have been consistently at ground zero.

The US dollar is currently the strongest currency out there. That's what's hurting earnings for companies invested heavily overseas. If the dollar hadn't gotten clobbered the carnage in the market yesterday IMHO would have been a lot worse.
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