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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (467)	3/19/2000 2:55:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Dan, et al, There was essentially nothing said about PMs in Barron's for the second week in row. However, the following quote is from Abelson's column: "And, as both Goldman Sachs and Merrill Lynch have had recent occasion to observe, a strengthening global economy is beginning to put a strain on commodities. Not only oil but various key metals and farm products as well.Merrill claims, by one trusty measure that excludes energy, "we are in the biggest bull market for raw commodities in the last 25 to 30 years." It is also pointed out in Abelson's column that the public's direct equity exposure is at an all-time high and that mutual funds' cash reserves are at an all-time low. These do not auger well for the broad market but could be bullish for PMs. On 3/16, the Barron's GMI was 307.46, down from the previous week's 312.68. With the POG up to 283.90(3/17), the ratio held at 1.08, the same as the previous week. A year ago the ratio was 1.11. While history suggests that this low ratio is a strongly bullish indication for the next year, as you can see the indicator has not had a very good record during the past year or so. Cheers, Larry