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

To: Zeev Hed who wrote (64442)	2/25/2001 12:35:15 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 116940

Zeev, I see the current general stock market a house of cards, a vast field of tulips. The market grew these tulips, but I wonder if it will continue to support them in the face of deteriorating fundamentals. Do you have a forecast for a DOW and NASDAQ low, and timing?

To: Zeev Hed who wrote (64442)	2/25/2001 5:36:56 PM
From: KyrosL	Respond to of 116940

<It took 16 years to make a new Dow high from the 1966 peak just above 1000, (with few runs to that level) till 1983 or so when the 1000 level was breached for good.> In inflation-adjusted dollars the Dow did not reach its 1966 peak until 1996, 30 years later. One 1966 dollar was equivalent to 4.7 1996 dollars in buying power. Today's Dow is about twice what it was back in 1966 in real terms. It's interesting to note that the Dow peak in 1966 was also about twice its peak in 1929, again in real terms. Gold's $800 peak in 1981 is equivalent to 1600 of today's dollars. Or, to put it another way, today's $260 gold price is 85% below its 1981 peak in real terms.