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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (1889)	8/21/2001 7:11:03 PM
From: Brumell	Read Replies (2) \| Respond to of 4051

Svenlar - I think you misread my post. I didn't say the price of gold was going down. If anything, I'd guess the opposite. That's why I've been checking over producers, preferably based in North America. Results imo was their shares are over-priced... their prices already reflecting higher gold prices. A simple observation offered fwiw. While liking Gold as a metal (it is beautiful), I dislike many of the reasons that could make it move. Prices are rarely driven by industrial supply and demand - instead it's calamity and financial uncertainty. Don't know about you, but neither makes me happy.... yet there are some realities. As I posted much earlier, the globe appears in a state of flux. Look at the middle-east, southern Europe and a few countries in South America. In some cases energy might be a better hedge but gold is worth considering too. Then there's Japan, every investment experts darling 10 years ago. Home to some of the world's largest banks, now they have serious problems. How long can those banks carry assets based in part on the Nikkei without being forced to re-structure or worse? Must the nikkei hit 11,000?... or is it 10,000?... or perhaps 9,000. Obviously I don't know the answer but a problem exists and could get worse. Ramifications could be serious and in this case, gold might definitely flourish. With the above in mind, a case for gold can be made. However, I thought major producers might be the answer but have to question that now. They need a big upward gold price to justify current price levels imo. We may get it but we may not. Bottom line, I thought with gold prices so low, shares of gold miners might be similarly priced. They aren't. As for PFN and the other stocks you mention some of which I've owned, that's a totally different mindset. I've traded such stocks for 40 years, sometimes for better often for worse, but love them nonetheless. Key word is "traded." By watching financings rather than drill bits, by never chasing a stock and by taking profits when you have them, they can can be both enjoyable and very profitable. Because of those crazy spec. juniors, my portfolio was leaping earlier this year while many others were clobbered with their supposed blue chip, high tech, analyst-recommended, go go portfolios. Nuts! Anyway, excuse this long rambling post. Just got back from a 2 hour root canal episode with my dentist. It's amazing the above is so civil...LOL. Bob