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

To: Bruce McGaughey who wrote (464)	2/5/1998 7:08:00 AM
From: Francois H. Gaston	Read Replies (2) \| Respond to of 749

I am even more bullish on gold, right now (Warren Buffett helped A LOT). Now 100% of my retirement is in FDPMX and FSAGX. (VERY dangerous but I will not retire tomorrow! but then again, if I am right, I will retire sooner than later!). 100% of my kids collge money is in ALTA (wished their account was big but it is not). And 100% of my play money is in goldstocks. Completely irrational... Don't try that at home! ALTA's chart looked better at midday yesterday than at the close when a lot of day traders got out. The trading volume is increasing and ALTA still closed UP, which is bullish (because despite many day traders dumping at the end of the day, there were an increase number of buyers as well... otherwise ALTA would have closed lower than previous close). We therefore had significant "accumulation" yesterday, for ALTA. Dollars index is making a "double top" (does not fit the full definition of double top but recent high did not meet previous high) while other currencies are making "double bottoms"... bullish for gold. Russell 2000 is looking more bullish than the DOW and small caps might, at last, be in for a quick rise. Warren Buffet's story is front page of CNBCfn from yesterday after the close... bullish for silver but also for gold, IMHO. I think we have started the great gold rise of 1998 (following silver) and that any retraction in gold stocks will be met by brisk buying from profesionnals... almost irrespective of POG (IMHO) because I don't think that the Central Bank selling threat is going to forever weigh on those stocks. ALTA is cheap in my view, but many gold mines stocks are expensive right now and some retraction could occur if POG dips significantly. Doubt that we will see ALTA hit 1.25 again this year. IMHO POG has placed double bottomed for good and mighty $ might have placed a double top. Stock market will rise a bit, but could falter big time this Spring. We are in for a nice ride (IMHO) Good luck all. Gaston BTW: recieved (fax) from Europe (french language) an article describing gold rise... and also describing that "gold might represent 5-10% in a portfolio" and suggests to hire a professional to pick the right gold stocks. They say that Australian gold mines are the cheapest right now. I will have to figure out from which newspaper it came from. Will post that tomorrow. As I stated recently, Europe could be really big on gold, despite some of their bank selling gold. Germans, French and Swiss banks have a lot of gold, and my connections (not profesionnals) are telling me that central banks in these countries are selling any gold and that rumor suggest that they actually might be buying (just rumors). Individual europeans are starting to buy physical gold. Not a rush yet...