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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: Bill Murphy who wrote (19929)	9/27/1998 10:35:00 PM
From: Terry Rose	Read Replies (2) of 116764

Bill, I finally got into your cafe. I used a different web browser and got in with no problem. Cuisine looks tasty. I think the only way to play the gold market is buy in the 270-300 range and wait for the breakout which can come at anytime and then hold on for the ride. There is no doubt in my mind that the price has been held in this range for the past few months. However the longer the price is held down through derivatives and gold leasing the greater the underlying pressure builds and the more violent the eruption will be. All of this financial chaos may not have caused gold to breakout yet but it has weakened the powers keeping it down. Each rescue uses up capital and a liquidity crisis is becoming embedded in the global hedge fund community. Last October gold got hammered. It is now pay back time. Terry,

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