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To: GST who wrote (103249)	5/11/2000 6:09:00 PM
From: re3	Respond to of 164684

from the goldminingoutlook.com site. KAPLAN'S CORNER: QUESTION (a perennial reader favorite): How can you be sure that your analysis of the financial markets is correct? ANSWER: In the financial markets one can never be sure of anything. One can only look at the relevant economic fundamentals and technical patterns and attempt to draw the most logical conclusions possible, remembering that unusual extremes often go to even greater and more unusual extremes before they sharply reverse. The greater the consensus on anything, the more likely that it will be wrong. Insiders usually know more than outsiders. Historical trends must be respected. The most useful comment about the financial markets was made in Jack Schwager's book "Market Wizards," in which the author quoted Ed Seykota as saying that the market generally acts in the way which will hurt the most people. This can certainly be seen in the bull market of the 1990s: very few bought in the early years, while many piled in near the peaks. And very few are selling now, when they could still be ahead. Once they're well into the red, they'll be selling left and right. With gold mining shares, very few are buying now, while many are using each rally as an excuse to sell, just as they did with the general stock market as it bottomed in 1981 and 1982.