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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Mel Spivak who wrote (7484)	2/9/2002 10:48:11 AM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 36161

Mel - good calls, bad calls...IMHO these are marketing plays. Some are right (I told ya!), some are wrong (pls forget about them). What I am watching from now on, with gold at the psy price of $300 is the number of midiots who will call for a rally. This week's Bearon's has a neutral to bullish paper. online.wsj.com The recent move by gold producers to reduce their hedge positions -- the amount of production they have sold forward as a bet on lower prices -- has probably been the most important factor to garner wider investor attention for the metal. Jim Steel, an analyst at Refco, sees these influences as "a powerful cocktail for gold," that pushed it to levels that renewed fund interest. When the shoeshine boy will ask me if his ASA shares will keep up moving. I'll know it will be the time to bail out. <g>