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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (95)	4/4/1998 3:00:00 PM
From: Larry S.	Read Replies (2) \| Respond to of 972

Richard, Barron's GMI was 424.32 on 4/2, up substantially, as expected, from 416.81 last week. With the POG at 306.00, the ratio is 1.39, almost unchanged because the POG moved up almost as much as the GMI. The ratio has a long way to go before it signals that it is time to sell and is still suggesting that we are likely to see much higher prices a year from now. I took time to check the decimal point this week and to avoid inversion of digits so you should have to figure out what I was trying to say. Yes, the market looked very good this week and we now have both the problems in Japan and the EMU likely to contribute to keeping it moving up. However, it worries me that so many pundits seem to be saying gold is on its way. FYI, Armstrong's next turning point is 316.10 and he says the POG is vulnerable to a retest of its low or a drop to a new low unless we get a weekly close above this level. As you may have noticed, he is indicating on his Website that the daily and weekly trends for both gold and silver are bullish. He is also indicating that the monthly trend for silver is bullish even though he hasn't removed the silver squeeze story from the site. A lot of gold stocks are showing signs of life, particularly majors. A friend called Randgold (RANGY on the NASDAQ)to my attention. It is a South African company that seems to have a lot of potential. It was up more than 8% Friday and looks very interesting, as do a host of others, making funds a good place for some money. However, if Bobby Beara on the POGM thread is right about silver, some of the silver plays will be even better. Funds are an easy way of gaining exposure to both. Cheers, Larry