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

To: Francois H. Gaston who wrote (518)	3/4/1998 10:20:00 PM
From: Francois H. Gaston	Read Replies (1) \| Respond to of 749

The market correction has started... Just IMHO. And Intel was the trigger. Now some are starting to suggest that gold stocks might not be a bad idea... On March 3rd, Mr. Cliggott (JP Morgan)... at about 9:40 am was discussing with M. Haynes (CNBC) and said that what he likes right now are depressed sectors: gold stocks and oil stocks... Not many have said to buy gold yet... Is it starting? Should we buy American Eagles?.... On THESTREET.COM, they have today a segment on gold stocks thestreet.com mmmmmmhh! There are two other books that are easier to read than the one I suggested in last post: Gold Investing... amazon.com and the 1929 crash amazon.com When you read these books, it is hard to see how baby boomers can pile money in the stockmarket forever, buy big gas guzzling four wheelers, have big credit cards and loans and..... still have cash to invest further in this stockmarket. The speculation bubble is getting bigger. Speculation is becoming rampant. And many outside factors are now influencing the economies of wealthy countries. These factors are slowly adding up... Asia, bank failures, currency problems, stock market speculation, big debts everywhere, unrest in Indonesia, possibly big crop failures because of El Nino, and the Y2k computer problem (very costly)... I personally don't see how this stockmarket will hold. Read what happen in 1929. The crash did not happen just in one day... It took about 6 months with numerous gut wrenches drops in NYSE, with "nice recoveries:... BUT with lower highs and lower lows... So many were caught because of bear traps, and because shorts changed to long position, and then lost... The owners of physical gold kept some wealth (and the price of ounce was fixed then)... but real estate lost value as well. In Korea, right now, it is a huge slowdown, where spending by average citizen is reduced to the bare minimum.... as in 1929 I don't think we are there but we probably will see a good correction in techstocks while other sectors will hold... but then those could start dropping too...Oh! Noo! Future will tell. Good luck all... Oh! Yes!... Governments will not let gold run at this point!, me think. We will need many scared small investors buying gold in many countries: that will do the trick for gold. That is what happened in 1929... and a couple of years later, gold was confiscated by the government.... Gaston