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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (455)	7/21/1999 10:36:00 PM
From: John D. White	Read Replies (1) \| Respond to of 48092

As I said yesterday, the over-riding problem with the market right now is the sentiment indicators. Too many bulls. Too much margin debt. Lousy short interest report today also. Even though there is absolutely nothing fundamentally wrong with the market now, I'm noticing some weakness in the dollar and firmness in commodity prices. If money flows out of the US markets, there are only so many places for it to go, and safety will be the issue with Y2K around the corner. Put my money into developing markets? (no) Euros? (a little maybe) Hard assets? (The big question) We may even have seen the highs in the averages already this year. All the stars are in line for gold. I view the central bank sales as no factor - just a big IPO. Think about it. I'm not looking for a collapse, mind you, just a good healthy 10-20 percent correction. Something below dow 10,000 for sure. I've sold enough covered calls to cover me for 10 percent, hopefully the gold position will more than make-up the difference. All, of course JMHO.