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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (48796)	2/10/2000 8:26:00 PM
From: long-gone	Read Replies (2) \| Respond to of 116770

<< First, the market does not believe the current prices are going to hold. Second, gold equities are held in such disfavor, that a more favorable environment for gold cannot attract investment dollars into the group. It is proving difficult to overcome the bre x debacle in 1996 and the subsequent scandals of that period followed by the realization that the forward selling by producers exacerbated poor market conditions.>> A 3rd is also possible, did you note the general action of the market the last many days? The DIJA was lower while a very limited number of NASDAQ were higher, with-out regard to any factor other than T/A of stock price! It is highly posible no sector will go any higher for quite some time! the fact there was any gain at all in the XAU under these market conditions, I consider a major WIN.

To: Ken Benes who wrote (48796)	2/11/2000 12:28:00 AM
From: goldsheet	Read Replies (4) \| Respond to of 116770

> If you were not a trader and it is hard to imagine anyone investing in gold stocks not being a trader I have been speculating (not investing) in gold stocks for about 20 years, and I could not imagine doing buy-and-hold, especially over the last fours years > I have taken advantage of this with successful trades on at least three occasions Yes, I have bought and sold ABX four times in the last 15 months, mostly in the 17-20 range. Picked up about $12 in capital gains, and another $1 selling a covered call. I leveraged up each time (i.e. for every 100 shares you sell at $20, you then buy back 120 shares at $17, etc..), so the ABX trading portfolio is getting close to double. > I am looking for an equilibrium price of between 350 and 375.00, possibly higher You will find my other post amusing, since I guessed an equilibrium price before reading your post. I picked $363.28 +/- $10, which falls completely inside your range !! P.S. I picked a weird number, because 1) it happens to be the average gold price over the last 16 years. 2) I'm sure it will generate more weird discussions than a number like $375 !

To: Ken Benes who wrote (48796)	2/11/2000 7:17:00 AM
From: long-gone	Respond to of 116770

"The New Era-tionality" While rummaging through my in-box today, I ran across the above-titled editorial from the September 7, 1929 edition of Business Week. (I guess I've fallen behind a little in my reading.) The text of the editorial is reproduced below. It reads as if it almost could have been written on September 7, 1999. We know history does not repeat itself, but it might, as Mark Twain said, rhyme. Enjoy! For five years, at least, American business has been in the grip of an apocalyptic, holy-rolling exaltation over the unparalleled prosperity of the "new era", upon which we, or it, or somebody has entered. Discussions of economic conditions in the press, on the platform, and by public officials have carried us into a cloudland of fantasy where all appraisal of present and future accomplishment is suffused with the vague implication that a North American millenium [sic] is imminent. Clear, critical, realistic and rational recognition of current problems and perplexities is rare. (cont) ntrs.com