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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Jim Ilchyshn who wrote (3731)	12/2/1997 12:51:00 AM
From: sana	Read Replies (1) \| Respond to of 116815

From the Gold Show: Without a doubt some of the contributers to this thread have as much knowledge and insight as the "professionals" I've listened to at the Gold Show for the last two days. Bottom Line from the GS:..............THEY DON'T HAVE A CLUE There was really no debate because they all agreed. "gold will bounce back 'sometime' next year". Dines said it all when he told a joke..."If the world was logical...men would ride sidesaddle". Some comments. Dines advice was to buy co's with cash because if this market doesn't turn around there will be alot of co's going belly up by June. All of the gurus felt that it was possible that gold could see 250-270 No one seemed to feel it would go lower. Bishop was probably the least optimistic of the bunch. He did feel that one could make some money in December and January if the market takes its traditional bounce after tax selling. He did not feel anything would happen in the long run until gold stabalized. It doesn't matter where, really just maintain a value and show some stability. Dines also felt that gold would test the 250 level but then some event would occur and gold would see a $100 gain in just a couple of days. Obviously much more was said but you sort of get the idea. There was not much any of them could say other than everything runs in cycles and gold will again have its day (and of course they are correct) the only question is when. I think because it was a convention of gold bugs they really had no alternative but to say that gold would turn around next year. I hope their right. One additional comment by BB that I see as a longggg term problem in this sector. He felt that because of the total collapse of this market (gold) and the BreX fiasco (along with a couple others) that it would be a long time before portfolio managers seriously looked at these stocks.