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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (63772)	2/15/2001 12:55:28 PM
From: Canuck Dave	Respond to of 116752

Ladies and Gentlemen, my two cents worth. I have nibbled in silver and gold a few times the last few years, and have never made a nickel (pardon the pun). The present situation in regards to the price of gold can not last forever in my opinion, but it could last a while longer.I believe we have to treat precious metal stocks like any other ones. Go into them because we like the fundamentals, but don't initially load the boat, and reduce holdings when things turn against you. Protect capital. Gold is a large market and I find it hard to believe that a conspiracy exists which controls the price. In the short term, however, bad news begets bad news and momentary prices can stay far away from equilibrium prices if that's what people are willing to pay and be payed. In any event, we can not control the price and must act within the boundaries of what we are able to accomplish. Looking at the overall volatility index and the Elliot waves for precious metal spot prices, there are strong indications that a large chunk of something smelly may hit the fan around the end of this month which will cause a lot of building pressures to be released. I pray to God the catalyst is not a Mid-East (or other) war. I suspect it will be a liquidity crisis or large debt default. Keep the powder dry and don't fight the tape. There are hints that a change is in the winds for gold. Spot gold has hit a new low, but gold stocks are holding up today. Might mean something, might mean nothing. When the time comes, jump in with both feet. Eventually, this thing's going to go. Just my opinion. CD