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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Hawkmoon who wrote (26138)	1/14/1999 6:52:00 AM
From: Bill Murphy	Read Replies (2) of 116764

Ron, You said it better than I could. We are on the alert for the type of events that could be bubble poppers and change psychology about holding gold. There are many gurgling the below the surface. The credit spreads are not coming in. That means the arbitrage spreads and trades like Long Term Capital put on - are still losers. At some point, this will have to be dealt soon. China has big problems and the Brazil problem should spread over other countries in Latin America. It goes on and on. My guess is that when gold goes, it explodes, because the heavy gold shorts are financial institutions. They will have to make dramaitc adjustments if the financial landscape deteriorates. The best we can do is to stand vigil. The reward should be well worth the wait. I sure hope it is. This has been very tedious. Bill

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