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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (143164)	6/19/2002 2:31:18 PM
From: GST	Read Replies (1) \| Respond to of 164684

"So you agree that buying gold now is comparable to buying tech stocks in 1999 ?" Yes, I have been saying that for years. But there are important differences in details. By the way, I also said for years that tech stock speculators would switch to gold when they could no longer run tech stocks up and when they realized (reluctantly) that gold and tech stocks have very, very similar investment properties. Gold had been shorted to an extreme degree as the culmination of a 20 year bear market for gold -- driven in no small part by the ability to create derivatives that allow shorting on a scale almost without comparison. There is a couple of years of bull market in gold just from the short covering that is as yet far from complete. The float of gold was artifically boosted and has now collapsed. With tech stocks, the stocks with wings were those with low floats to begin with. Shorting those stocks gave them an immediate boost. With gold it has taken two decades -- don't underestimate the boost. The market is short thousands of tons of gold.