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

To: Eva who wrote (13930)	6/5/2002 5:15:28 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

Eva. Recent thougths from Heinz on this gold dip. Not all that different from our brainstorming on this thread. But thought threadsters would be interested in reading it. (Thanks to Paul Shread, who reposted this on SA II.) <Monday, June 3, 2002 4:49 PM ET To: ild (who wrote) From: heinz blasnik Hi Ilya, i think i'll post on SI again soon...it's just that i was extremely busy recently, and public posting on SI requires time to be able to react to all the replies i'm usually getting. regarding the gold shares, i agree that a bigger correction is probably imminent. i've lightened up considerably on my positions in expectation of such a correction, although i did buy the most recent dip again for a quick trade. i also agree that the downside in the PoG is probably limited to the 310 area, or slightly higher...in which case i'd be looking for XAU 80, and HUI 110-120 approximately, for a credible wave 4 low. one possibility is also that the broad market continues its waterfall decline, eventually culminating in a mini crash. in that case i think EVERYTHING will be taken down, including the gold shares, due to margin calls. by definition a crash is a low probability event, but with today's decisive break of the May lows, it has just become a little more probable. i've a boatload of index puts, and although i sold some today, i retain a relatively large position in case my hunch that the market is in danger of falling apart completely proves correct. regards, hb>