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

To: TrueScouse who wrote (13379)	5/28/2002 6:50:17 PM
From: Frank Pembleton	Read Replies (3) \| Respond to of 36161

Howy... Mr. Cole is always expecting a correction - Isopatch had this out with him last year (where is Isopatch anyway?) the man is forever bearish, forever expecting pullbacks and never risking a penny of his old age pension. I'd like to see what his market calls would be like if he had seven figures invested in this sector... Let's not forget the markets are looking sick... we are now at the highest P/E valuations in the history of mankind... Why pull anything out of the PM sector now? The Dow is at 10,000 and gold is still hovering at a meager $325 per ounce? Different story if the Dow was already sitting at 6000 but it's not, and gold stocks have a NEGATIVE BETA!!! Gold as insurance anyone? Regards Frank P.

To: TrueScouse who wrote (13379)	5/28/2002 7:03:31 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 36161

I had been expecting a small correction this week. But my major call was for a move to about $330 POG and 90-92 XAU before a major correction. Jury still out on that one. I suspect the India/Pakistan tension is the wild card for POG now. A war there would of course send POG much higher. But if tensions ease, POG could correct sharply.