Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (3425)	12/27/1997 11:02:00 AM
From: Bruce McGaughey	Respond to of 11603

"I believe the recent rally is just a dead cat bounce sucker play and that silver is being manipulated. Study the Hunt brothers." You may be right, Richard, but a rally is a rally and until proven wrong, you have to jump on board and ride it because the rally may turn into a significant market reversal. (I transferred my IRA money into Fid Sel Am. Gold at 14.21. It's now at 14.80. I'm pretty happy about that.) Go to "The Privateer" and read what they have to say. It's pretty interesting. the-privateer.com I think, basically, what they're saying is that this MAY be a reversal if gold can get up over 300.00 soon. Technically, they make a case for a reversal based on two points: 1) The point and figure chart has sold down below a channel and has rallied up to fall within that channel. 2) The Aussie gold market has picked up. They claim the Aussie market leads the US Gold market (historically). In the past, these two things happened at bottoms for gold. They also make the point, this week, that in the past silver and gold have pretty much tracked together but that recently silver has gone nuts while gold hasn't. That's very different from what has happened in the past and may be due to central bank dumping of gold this last year so that their books are squared for entry into the EU. With all this paper floating around, gold is the only thing of real value a lot of these governments own. As for the Swiss dumping gold, forget it. The Swiss people have to vote on it. That won't be for another year and the Swiss people aren't going for it. What I'd like to know is this: If central govts have been sellers of gold this last year, who's been buying it ??? Countries in the Middle East, India, The Rothschilds ???? Every dog has his day and gold's day is coming.