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

To: Crimson Ghost who wrote (67274)	4/7/2001 12:19:25 AM
From: Rarebird	Respond to of 116752

The Nikkei closed today 65.6% below its all time high - set in December 1989. On the same day, the Nasdaq closed 65.9% below its all time high - set in March 2000. Why are investors/traders STILL trying to delude itself that the downturn will soon be over? Because they are bagholders and down a fortune? The NAZ has fallen further in ONE year than the Japanese market has fallen in more than TEN years. It is incredible what delusional thinking can accomplish. <We may be close to A bottom in the markets> Outside of the fact that the NAZ is grossly oversold and has fallen 10 out of the last 11 weeks, what makes you think the NAZ can rally 20-25%? George, there is still no positive earnings visibility moving forward. The conference calls will be very bleak over the next 2 weeks. How is the NAZ going to rise? Because we are suppose to have a bear market rally in a bear market? I don't think Greenspan will ease before the May Meeting unless the ECB eases first. The Commercials have increased their short position substantially over the past week in reagard to the NDX. GDP for the first quarter could very well provide a big downward surprise when it comes out the week of April 23. So far in 2001, the Dow is down 9.3%, the S&P 500 is down 14.6%, and the Nasdaq is down 30.4%. Many of the gold stocks are up over 30%!! The only positive investments left at the moment are Treasury debt, some corporate debt, GSE (mortgage type) debt, and some pockets of real estate. They are quite vulnerable moving forward too as the widening inability to service existing debt is now spreading across the US. <Personally I plan to start moving assets out of regular money funds next week into government only funds. This is not the time to be reaching for yield.> Very Smart move. I did that already a couple of weeks ago. Only Gold will be left eventually. PS The Dollar Bubble is going to crack in a big way.