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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Sharp_End_Of_Drill who wrote (92750)	7/25/2001 6:16:02 PM
From: c.hinton	Read Replies (1) \| Respond to of 95453

One thing to bear in mind is that there is alot of european money invested in the US.Should that money be pulled out it might be the perverbial rug from under our feet.Also france and england both have been through currency switches within living memory.While the transition was not easy it was achived with out hugh problems.Also private debt is nowhere near the level that it is in the US.

To: Sharp_End_Of_Drill who wrote (92750)	7/25/2001 6:42:28 PM
From: isopatch	Read Replies (1) \| Respond to of 95453

Sharp. Weakness today in the metal IMHO just selling in anticipation of an agreement between the parties to avoid a gold miners strike in S.A. Bot ECO (again<g>), in the final hour @ .96. Will reload some other favs on any further dips. AND...Bot some BJS today, for a trade. Some confirmation today that we're putting in a tradable bottom in the patch. But will probably wait for more evidence of same before I pawn the pooch.<G> Glad to have you contributing here again, Sharp. How is your portfolio positioned? Cheers, Isopatch

To: Sharp_End_Of_Drill who wrote (92750)	7/25/2001 7:21:20 PM
From: Davy Crockett	Read Replies (2) \| Respond to of 95453

However, I wonder - would it be good for gold stocks, or would they drop along with all other equities? Yes. They would drop (I'm assuming your talking about panic selling), however they may recover first, (if history is any guide) & to further complicate things... is the company hedged or leveraged to the POG? Regards, Peter p.s. Please correct me if I am wrong...

To: Sharp_End_Of_Drill who wrote (92750)	7/25/2001 7:39:38 PM
From: Frank Pembleton	Read Replies (2) \| Respond to of 95453

large NEM position/bubble-itis I agree with what you just said, NEM is total bubble-itis at $270 gold. But is it at $350? When I sensed the oil bull was back in town Jan 1/00, I chose a basket of small cap stocks like it was a New Years resolution. None of them had reasonable p/e & psr ratios at $16 oil, but they did at $30. No one believed the bull was back at $20 and it was time to sell when it hit $30, when every one thought the planet was out of oil <again>. Same play here, if you believe. If you don't, there are some pretty smart investors on this thread that are 90% cash and 10% in precious metals, you could easily hold 100% cash if you love the dollar. Last note -- trading gold stocks is not unlike trading Hi-Tech, you buy them for the future prospects. I was looking at a valuation table that listed about sixty PM stocks and the average PSR was in the neighborhood of 30%, so in a sense you should feel bad for not taking a chance at a real "leveraged" play. If NEM has only a PSR of 2, you should really reconsider what were doing here! When shopping for gold stocks look for P/B, Market Cap/ounces in reserve and finally future CF/S, because by accepting present day values you aren't "prospecting." Oh! One more thing... If someone offered to exchange a note called "euro" straight across with your dollar, would you do it? That's where the real danger is, "acceptance." Regards Frank P.