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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Defrocked who wrote (7930)	10/27/1997 8:11:00 PM
From: Mark Nelson	Read Replies (1) \| Respond to of 94695

<Do you see what their doing to Australia mines tonight? Down 11% for starters.> Right, point is that gold spot is holding steady now. Buying the XAU is buying gold at a discount when the miner stocks are beaten down. Granted, another reason the XAU is down is because the price of gold has recently dipped. But, by now, everybody knows that the reason it did so was not legitimate. Right? (Swiss only might sell if they can change their constitution (by a 75% majority vote on a public referendum) and then not until 1999 and over a period of 10 years. Gold is getting passed over as a safe haven for value while US Treasurys take the spotlight. When that paper starts selling off people will look at gold once again. It seems to me that bottom picking 1st tier gold companies (XAU) is a no brainer. Or is it? Someone tell me where I've gone wrong. Mark