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Pastimes : JESUS and FINANCIAL FREEDOM
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To: yard_man who wrote (1047)9/28/1998 10:57:00 AM
From: gregor  Read Replies (1) of 1283
 
Hi Barry:

The collapse of Long Term Capital Management brings several things to mind. The bible says that the wealth of the wicked has been stored up fot the righteous. The day has come I believe where turmoil will be prevalent in the markets. These are the last days and the same old equations are not going to work. The Harvard scholars, the intellectuals are all going to be confounded by the wisdom of the common folk. LTCM is just one example. I understand they shorted gold and are being bailed out by the big banks in hopes of depressing gold prices enabling them to cover short positions. This IMO will never happen. If they do not cover losses now they are going to be hit with bigger and bigger losses having reached a secular bottom in the yellowish mineral.

I know you have big positions in mining stocks. God forbid if I am telling you wrong but stay the course. I told a friend of mine to buy ABX this past summer he did so at 15 1/2 it went into the 12's but now he is sitting on a nice profit.

The markets are fraught with danger but there are plenty of good investments that the Lord will lead us into. I'm waiting patiently to see a nice bottom formed in the ^RUT; There will be a lot of tax loss selling between now and the end of the year in this sector but the potential is great for a Dec Jan rebound. Fidelities Emerging Growth and Vanguards Explorer are two good funds to play this sector.

God bless you in abundance and your family. In Christ.gregor
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