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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: hedgehog who wrote (923)	11/16/1997 9:47:00 AM
From: Roebear	Respond to of 1911

hedgehog, actually you have more experience than I in the PM stocks. While I have managed to survive my first year in the gold/silver bear market buy averaging or buying on dips and selling into rallies the first six months were pitiful. At one point I was leveraging my PM for tech stocks to make a little cash back (paper equities and MF were my home before this year) and fortunate that my timing has been good lately. I sold most of my PM stocks in early October (to buy back cheaper as I have done, see HL thread) and all of my paper stocks mid October to the 21st. (They were only held a short time) That was good timing and made up my early losses. I am out of paper equities for the forseeable future. Now I may have bought back in PM stocks too early, but my only underwater position is ECO. I have been expecting a good rally by end of Jan 98 but your information will be considered, I have heard a number of stories like that in the past and so far they have been not far off! My expectations of a rally are based on TA, bear bottom sentiment, and my gut feel. However, I am aware that at times TA does NOT work in this politically manipulated metal market. I think you current take and position on the market is enviable and pretty fail safe except that when the gold bull takes off there may be no catching it. Of course if you always have some long positions you are ready. As for me I may be early and I may be more exposed, but I will be nimble and on my toes! Keep your ear to the ground and I will also! Best regards, Roebear