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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (38003)	6/5/2000 8:28:00 PM
From: re3	Read Replies (1) \| Respond to of 42523

KAPLAN'S CORNER: QUESTION: How has the tone of your e-mail changed since gold began to rally on Friday morning? ANSWER: Until Friday morning, there were lots of letters insisting that the gold price would never rally, that gold would go to $250 before it went to $300, that the XAU was certain to hit a new annual low, that I was crazy to recommend gold shares, and so on. Now the most frequent correspondence asks if it is "too late" to buy the XAU or individual gold shares now that they have gone up 10%. Usually this means that a small group of investors is now eagerly awaiting a pullback in order to buy gold shares, so the pullback may lead to a quick rebound, or may not even occur if too many are anticipating it. Interestingly, it is always obvious when a gold share rally is almost over, as I get dozens of readers eagerly stating "I have been following you for several months and today I decided to finally switch into gold shares . . . ." (So far, there have been no letters like this.)