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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: austrieconomist who wrote (18858)	8/31/2003 12:17:47 PM
From: russwinter	Read Replies (2) \| Respond to of 39344

<He is analyzing the gold price, not PM stocks.> Well, I guess we are all talking about two (or three) different gold related subjects. I thought from the get go that I was speaking specifically about HUI-like plays where the big action has been? If the points about Russell refer specifically to POG, then this discussion is getting a bit circular, and I don't think I've made it so? Since I don't subscribe to him I can only respond within the context of the points I made about HUI. What does Russell say about HUI or HUI-like PM plays? The two (POG-HUI) don't necessarily correlate very well, at least in the intermediate term. HUI has been a proxy for gold, and there's been a monster bull market. That's (roughly, since I never favored the amigos stocks like GG, etc: see prior posts, including the WHT write-up in March) where I invest and focus, so injecting Russell's arguments about gold itself is in my mind "changing the subject". If Russell is recommending gold at $375, that's a much more conservative (maybe 10% downside) play than the focus of my discussion: aggressive HUI and juniors (with 30-40% downside in a 10% POG correction). XAU: I've been sarcastically characterizing XAU hedged gold stocks from the very beginning as defacto financial or insurance stocks, not gold, and that shows in the performance.