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To: Lucretius who wrote (4744)	7/20/2000 12:13:49 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

it actually hurts to watch the XAU and its components...this is getting extremely tedious...one wonder where and when it will end. maybe Hutch's 30 prediction will come true. who knows, maybe it's really going to zero. i wonder how much longer the industry can survive this. looks to me like we're in for a rash of bankruptcies. i'm toying with the idea of selling all current loss makers regardless of potential and redeploying that money into those that can operate at a profit here. the default risk is simply becoming too great for some of the mid to lower tier producers. forget about breadth...it's meaningless. to hope that this rally will get sold today or tomorrow is pointless. won't happen. we could see some weakness on Monday maybe, but my bet is that the better dumping opp. will arise in August and then again in Sept./Oct. by that time the PoG should see a nice turnaround as well...could add 50c. from current levels easily...