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To: Lucretius who wrote (1335)	6/28/2000 10:52:00 PM
From: pater tenebrarum	Respond to of 436258

true..our skepticism won't help the market. this is why sentiment polls are basically useless, because usually even the bears are fully invested. just look at the consensus inc. numbers: you would conclude futures traders are mostly bearish and therefore short...but they aren't! they have a record net long position and say they are bearish! however, in the gold stocks case there's a slightly different dynamic at work...right now, no-one except the hard core and a few short term traders are long these stocks. the rest of the investment world ignores them. so our skepticism can be projected in magnified form on the investment community at large. e.g. Merrill's gold analyst who predicted $360 gold after last year's pop, predicts $290 gold now. so there's lots of potential demand...since gold and gold stocks tend to move inversely to the rest of the market, what are fund managers going to do if the broader market goes down but gold stocks begin to look perky? on that optimistic note, good night