Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Bill Murphy who wrote (4097)	3/11/1999 4:26:00 PM
From: Crimson Ghost	Read Replies (1) of 81885

BiLL: I think recent stock performance confirms my assertion that black gold is a much better investment than the yellow. Oil prices simply had dropped too low for the global economy to tolerate. Speculators were starting to target the Saudi currency before word leaked out that oil producers were determined to cut output significantly. The large number of oil bears (almost as vociferous as the gold bears) were blown out of the water and have totally lost credibility. Just before oil took off THE ECONOMIST ran an article predicting that $5 crude was just around the corner. People on this thread should know that master stock market timer Don Wallenchuck who has been (and remains) very bullish on stocks has recently turned bullish on gold also. Sees gold starting a new run that will take it to now all time highs over the next few years. Wallenchuk has one of the best forecasting records around. I still consider gold as essentially a gamble (albeit with very nice looking odds this year) and would never take a really big position like I have in energy. But with Wallenchuck turning bullish a modest position seems prudent at this time.

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