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

To: russwinter who wrote (8879)	3/6/2002 8:16:07 AM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Glamis Gold and Francisco Gold to Merge Creating the Premier Intermediate Gold Company RENO, Nevada & VANCOUVER, British Columbia--(BUSINESS WIRE)-- March 6, 2002--Glamis Gold Ltd. (TSE:GLG. - news; NYSE:GLG - news) and Francisco Gold Corp. (CDNX:FGX - news) today announced that they have entered into an agreement whereby Glamis will acquire all of the issued and outstanding shares of Francisco pursuant to a plan of arrangement. biz.yahoo.com

To: russwinter who wrote (8879)	3/6/2002 8:55:30 AM
From: Louis V. Lambrecht	Respond to of 36161

russ - if vt and I are right, we should have a PoG of 290 by Fri. If the old adage for the Street is right - March..., in like a lion, out like a lamb - we could expect a rebound of PoG into end of March while the general market would tank. Another issue I expect to weight (maybe too optimistic) in the PoG is the active part - and maybe change of politics of the WGC (second hope) - with the venue of Chris Thompson in April. Hence, my bias for the PoG is up as long as it would not drop significantly below 290, and stay above 290 after this weekend. Technically, indicators still have to be reset on PoG and it would take some time sideways trading. But even if this $290 would not hold, I can reasonably expect a rally (even a stampede) by mid-Q2/end-Q2 based on the current topping of both the broad market indexes and the Dollar index. (Expiry May 10 for the June's could be a tad short of time). IMHO the 290 strike will be history in three months from now, but we still are at risk to drop significantly lower before that, and gold options are American style. Risky, only play I would dare would be writing this morning and buy to cover as soon as PoG hits 290.5 (loss) but get out at any cost @ noon on Fri. I wouldn't write that put, but I am a chicken.<g> Wait for Monday or next week?