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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (57050)	7/23/2000 8:37:07 AM
From: Roebear	Respond to of 99985

Jorj X.McKie, I've got to admit, this was funny... "Buying the NEM and PAAS was also another way for me to prolong the mania. I figure, feed the bear gods a few sacrificial precious metal stocks that I will somehow lose 100% of my investment in and I can keep on buying VRSN calls. -g-" In gold equities I prefer AEM and for more speculative flavor, KRY. Both have future prospects, AEM more certain, KRY more speculative, that could mitigate any forseeable further drop in the price of gold. NEM seems to be off its feed lately, otherwise I would have that also. I don't believe there are many buy and holders left in the gold and silver stocks, I have watched too many of them fade away (and disappear!) like old soldiers on different chat rooms. I haven't "bought and held" PM stocks for quite some time. Just timing them, buying bottoms selling tops. But there must come a time when this strategy no longer works, the POG breaks 300 and stays above it and the timers get left at the station on the first correction. I'm just not sure which millenium that will be in, ggg. Regardless, I will be more careful in selling any gold rally. That said, I would not be surprised by a new XAU low, a real wipe out. If that occurs, it would presage a powerful rally, IMHO. Currently 60% cash, a very small energy holding, some recent PM stock purchases and a 5% "speculation". At some point I will look to reenter energy stocks in force, but not yet. Best of luck, Roebear