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

To: isopatch who wrote (16054)	7/19/2002 4:08:07 PM
From: waverider	Read Replies (1) \| Respond to of 36161

Same here Iso. Other than the ADCT and GG I picked up near the close today (very minor positions to keep me interested), got physical and cash. SHORTS???? You guys ought to keep an eye on the REITs. Check out FB, NLY, etc. Two year chart then last couple months. DIVE! DIVE! DIVE! Gun loaded and ready. If you do a random look at a list of favorite stocks, PE's of 25 and above are typical. Still tells me we have a bit to go. OSX stocks I like are PDE, ROYL, XOM and SII...not yet though. If TRC drops below $20, I'll rebuy. QCOM below $22 zone...then $11. GG is gold fav. Let's have a fun weekend and discuss possible buy targets for fav stocks. Off to lunch. wr

To: isopatch who wrote (16054)	7/19/2002 4:13:28 PM
From: Roebear	Read Replies (2) \| Respond to of 36161

Brother iso, can you spare a ton (of cash)? ggg I agree, flexibility required in these mkt conditions, plus I don't hold st trades long under these conditions. Taking profits today cut my holdings to about 40%, although that includes adding back a few faves near the end at decent prices, just initial sized positions, as I have no idea what the mkts will do Monday. Could be margin selling in other stocks effects golds, could be massive intervention, could be a general puke, could be gold goes to the moon. Shoot fire, if they keep putting the DOW up after the market close and we could even have a Friday night rally! Just numbers after all, give'em to Anderson, they can fix'em!! It's America, the land of possibilities! Roebear

To: isopatch who wrote (16054)	7/19/2002 4:14:33 PM
From: gold$10k	Respond to of 36161

Iso, Thanks for the reminder. When in doubt, stay out. My explorers on the Canadian side did not have an adverse reaction today and I intend to hold them. I own no PM shares that are traded primarily in the US. I have 36% cash, mostly in the Datek account I use for US trading, so I feel balanced and prepared for whatever. Regards, vt

To: isopatch who wrote (16054)	7/19/2002 4:46:14 PM
From: stockman_scott	Respond to of 36161

The angry market businessweek.com

To: isopatch who wrote (16054)	7/20/2002 11:23:15 AM
From: crustyoldprospector	Read Replies (2) \| Respond to of 36161

VT, Iso, Wave et al, I see a slightly different twist to this market. First, some background. Here is an excerpt from Lance Lewis (pay site, $50/yr, link below): "The HUI gapped up big at the open in reaction to the metal’s meltup, but it closed near the low of the day, only up 2 percent, with many shares actually ending down on the day. I still tend to think we’re going to see the gold shares get taken down with the rest of equities, and if/when we do, I’ll probably be buying that dip while everybody else is scrambling to buy tech stocks. But I am just a nutty gold bull, so what do I know?" Maybe George could have written that (ggg). But also for your consideration is this note: "I said yesterday that I thought we were getting close to some sort of low. I still tend to think that. Investor’s Intelligence (who’s poll is taken from newsletter writers every Friday) finally showed more bears than bulls as of last Friday, and I have to assume that this week will show a further increase in bears once we get the data next week. Every time we have gotten near this level of bears over the past couple years during the bear market, we have put in a low for that particular bear move. So, that’s something to be aware of. I’ve also noticed that there is a big fat bear on the front of the Business Week Magazine issue that hit the newsstands today, which means we’re most definitely getting closer to some sort of peak in bearish sentiment for this bear move. We also noted yesterday that telecom has begun to outperform a bit recently, which has lead us down thus far. Now, all of these things indicate that we’re getting close to getting some sort of bounce in the rest of the market in terms of time, but not necessarily in terms of price." And this last statement brings up in my mind the possibility that the "low" in the golds RIGHT NOW will be shallow and temporary, with a potential moonshot during the general market bounce as many investors pile into the only stocks that have made money in this bear market. The real shakeout coincident with a market panic low (ala 1987), could be a few months down the road ... after the XAU completes its 5th wave up in this phase of the young gold bull, and after the market truly panics. Also, the way many gold charts are looking (like GG ... thanks again VT), it seems like any low will be no more than about 10% down from here. Nimble traders like you guys can probably play some trades out well, but for some of the less-nimble Joes out there lurking ... I wouldn't short gold right now, nor get too cute about trading in and out of gold mutual funds. Lance Lewis: dailymarketsummary.net GG: stockcharts.com[l,a]daclyyay[dd][pc13!c50][vc60][iLb14!La12,26,9]&pref=G