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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (13371)	1/24/1998 9:22:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 18056

Bobby, to me the last two weeks in Barrick looks like the July 1996 period in the same stock. The move is greater, but the recent decline was much greater as well. Such major secular down trend do not reverse on a dime, IMHO. I believe that if a bottom in gold was set just under 280, it will retest back and fill it a number of times. I must admit that the fundamental conditions for a bull case start to fall in place, particularly closing of inefficient mines and bankrupcy of the weakest, yet we have seen only one of the later, we need a little more gloom and doom in this sector. Zeev