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

To: jtech who wrote (16769)	8/1/2002 3:25:29 AM
From: tahoe_bound	Respond to of 36161

"Slider where were you when we needed you? You said xau 62-64 was a buy and when it hit 55.5 you were nowhere to be found? Your waiting now for hui 90?" That's nothing! Back in late Spring '98 Slider repeatedly called for a bottom in the OSX, it kept on "sliding" though to early '99 before turning up!! He was bullish on PTEN in the low to mid teens, it finally bottomed out at $ 3 bucks! Gotta love the guy though, I learned a lot from that debacle. Very bullish gold long term - - -

To: jtech who wrote (16769)	8/4/2002 1:03:57 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 36161

jtech ["Slider where were you when we needed you?} ...to be honest; fishing and drinking beer - getting sunburned and oggling half-neked Wisconsinites & Minnesotans...and you know - sadly enough, I think they feed 'em a little different up here than they do down in Miami fwiw (vbg)...won't see too many thongs in Wisc & Minn fwiw... [" You said xau 62-64 was a buy and when it hit 55.5 you were nowhere to be found? Your waiting now for hui 90?"] jtech... I usually don't say much about the XAU - other than what I recall as the last thing I said about it ... Message 17738262 ...that being that it is basically an irrelevant index to what we own here; as it's weighted to gold hedgers and copper producers. The XAU however did fall from the 88ish level to sub 65 in less than 8 weeks...gee; I guess it did hit 55 for a few hours, 58-59 2 other days and now its at 63.... what's your point ? - it's a helluva lot cheaper than it was... The HUI is more relevant to what we own and talk about here. As I said before; HUI 80 to 90 is the territory where the goldbulls fought for 2 hard months back in Feb & March which formed the solid base for the rally that many of us sold into. HUI 90 is where the STRONG HANDS will be found and were found here at 95ish. Shame on me... it bottomed at 95 and not 90 ? C'Mon... People have been pounding the table buying back these stocks for months here... and I said wait, they'd get cheaper... and they did. If they look cheap enough - buy 'em, they're certainly cheaper at HUI 95 than they were for the last 2 months at HUI 120-130. The weak hands folded a great deal of late on the goldstocks - just as I said they would... The HUI fell from 145ish on May 28th to a closing low of HUI 95 on July 26th... a 50 point pullback in just 8 weeks. I took profits from HUI 120 to the run to 140 in late May and have sat in the same 15% Goldstock position for the last 8 weeks. I thought we'd see HUI 90, even 80. We saw HUI 95. ...close 'nuff for Govmt work imho. Said that Greenspan and the Fed would have to cut rates - said it'd be .75 bp.... and what has the Bond Market been telling us all week now ? I also said the OSX would blow thru 80 and value would be 68-72ish and where di the OSX go ? ...wish I had been at the wheel last friday, I may have added a little more gold, but the Land-O-Lakes beckoned. So on some individual stocks, I raised my limit buys up a bit and did actually add a little DROOY, KGC, GG, HGMCY and a bigger buy in CDE and added N here for an intitial entry on thrusday - added 7.5% to a now 22.5% portfolio weighting. Will wait for sub HUI 90ish to add again if seen; otherweise it's 22.5% Gold, 5% short & 5% long and 67.5% CASH waiting for the MOABO....and one more week of sun, fun & relaxation in God's Country.... Looks like the BEARS are large & in-charge again... If Gold finally looks cheap enough here - buy some more. My point is that "some of us" were correct in taking profits and exiting from a portfolio weighted position in May to just a "hedged" position (10-15%) of late... and that gold stocks didn't look particularly "cheap" during June and the first 2 weeks of July when many here were pounding the table to "buy 'em back" at HUI 120 to 130. Only in the last 2 weeks have they finally pulled back to any reasonable buy-back levels... falling from HUI 129 to 95 in just 5 trading days from July 19th to the 26th. CASH is still King... the MOABO is yet to come. But, you have to stay nimble... all we may get on this Gold Stock pullback here - is a trading bounce - as if the Fed starts cutting again & the PPT and the Wall St Boys all join in...and we make it thru Sept 11th without another terrorism incident - the Bulls may successfully be able to push things higher and gold may get whacked again... untill Q3 earnings reality hits come October (vbg). I think we're setting up for yet another BLACK OCTOBER fwiw...and the JPM Derivatives Bubble keeps garnering more attention...when, not if... the Derivates Rogue Wave awaits...