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To: Lucretius who wrote (83914)	1/24/2000 10:14:00 AM
From: heraclitus	Read Replies (1) \| Respond to of 86076

Luc, Your opinion on the Homestake MAR 7 1/2's. They look cheap but HM has been having trouble making any gains lately. I understand they are not a major "hedger". TIA

To: Lucretius who wrote (83914)	1/24/2000 10:24:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 86076

I'm not Bearish on Gold over the intermediate or long term. Actually, I'm wildly bullish. I expect the gold mining sector to be the best performing sector over the next 5-10 years. I have to be bearish on Gold over the short term, however. Look at the dollar! Look at the XAU. Look at growth. Gold is a currency. That doesn't mean that the XAU can't rally after the BOE Auction to the 73-80 level. I just don't think a bottom is in yet. I expect any counter trend rally to be short lived. I think the XAU bottoms sometime in March. I only offer my interpretations. I certainly don't consider myself to be gospel or any authority whatsover. I'm human all to human. I've been wrong before and I'll be wrong again. But I've been more right than wrong over the Years. If I was right all the time, life would be boring and dull. As for equities: I'm very Bearish fundamentally. I'm bullish technically. This Market trades on Technicals not Fundamentals. Thus, I'm bullish but extremely cautious. I'm under no illusions here.