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To: xstuckey who wrote (65865)	10/1/1999 6:24:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

x, obviously you haven't followed our extensive discussions on the subject... let me give you a quick synopsis: in 1987, gold stocks rose to all-time highs shortly before the crash. they were not a shunned asset class as they are now. our theory (trust me, it is probably sound) is that money will flee into heretofore shunned asset classes if the market tanks. already the golds have firmed considerably during a time when the rest of the market looks decidedly wobbly. in the worst bear market of all time, from late '29 to mid '32, when the Dow lost 86% of it's value, gold stocks performed excellently. in fact i believe HM has never again performed as well as it has during that time. the last time is not the relevant example imo. another thing: my comment on the golds was actually meant to indicate that they are sending a warning signal to the market as a whole: this bull is dependent on a continuation of the 'no inflation' scenario - and rising gold,oil,copper, etc. stocks are an indication that this scenario is beginning to fade. have a great weekend, hb