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

To: waverider who wrote (13993)	6/6/2002 1:01:40 PM
From: waverider	Read Replies (1) \| Respond to of 36161

Took advantage of the rise this AM to sell out all my BGO (1.44) to raise some cash for better performers like the silvers, GLG and GG. Also clicked out of that Japanie thingie EWJ at 8.75. Broke support in a major way this AM. RIG continues its downward slide, demonstrating again the importance of setting downside limits and sticking to them...even though this morning would have been a better time to click out of my position...once it broke support yesterday I was gone. My real estate (bare land) play in TRC is holding support by a thread. Still in that one...for now. wr

To: waverider who wrote (13993)	6/6/2002 1:07:11 PM
From: inchingup	Read Replies (1) \| Respond to of 36161

Waverider: Yesterdays NAV on CEF was $3.95. At the time I posted gold was up 1.5% and silver about 1.5%. This should raise the NAV of CEF about 1.4% also. Based on that we have $3.95 + about $.058 or about $4.01 per share. Now the money that is coming in is at $4.19 all of which is scheduled to buy assets in gold and silver bullion. If CEF pays 1% over market for the bullion that means the $4.19 per shares is really worth about $4.15 in real assests. The difference between the true NAV of $4.01 per share and the addition of $$$'s at $4.15 per share with a fund that currently has $66.5 million in assets would actually bring the real NAV up to about $4.055 per share. Buying at $4.12 would constitute buying real assets for about 2% over real value. This is about the same or better than buying gold or silver bullion on the open market.