Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (69760)	10/29/1999 5:32:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Joan, I think there are very few bears left, as most use short selling, which is too high risk a technique. Buying puts is a much better way to play this fluff market. I like gold, but I'm not real hot to trot. I still hold a 1/3 position in ASA. I think the ever weaker dollar is a positive for gold longer term. But, mostly, the amount produced is much less that the amount consumed, so we have been drawing down some very large stocks to make the price lows. Eventually those stocks either have to go away or become so small relative to demand that they have no big impact. That is what I saw about a year and a half ago in platinum and palladium, and it worked there. Gold is tougher, because it is a political and quasi-religious football, which platinum is not. But I see the same market forces at work for a long bull market in gold. I am just hoping for a selloff to buy more. I think it is ok to do some selective buying in the energy field, but I am not loading up the truck yet. BR, in particular, looks cheap to me. I would prefer it under $30, but that may be an unrequited hope. UCL is quite a bit below where I sold it, so I am also giving it the hairy eyeball again. I do think Opec will pop some leaks, but the long term supply picture for energy is pretty grim. So big producers, especially of gas, look attractive. I do think they are much more attractive than the service cos. right now. And UCL is also a takeover story. Alas, we no longer have Arco to play with. Hallelujah I made decent bucks on it for decades, but I kind of miss it.