To: Winer who wrote (5163 ) 6/9/1998 3:05:00 PM From: John Paquet Respond to of 11676
Winer, WAHOHOHO!!! NR; BTW, bad news NR this morning from new president of that ECB which they conduct thier first concil meeting of this new formed ECB. This new president his name if I spell correctly is Deuisenberg told a news conference that central bank will only keep thier GOLD reserves at 10-15%, market was expecting at least more than 20%, as soon as the news out, gold down sharply from $301 to $294.50 closed $295.50 at NYMEX August contract. Bad news indeed, DML went along with it down from day hi $1.42 to day low of $1.27; as general market sentiment; right now near that low of $1.28. The good thing that is out of this bad news is gold did'nt crash to that $290, or to that 18 years' low of $276.50, in January, 1998. and Also, the good thing is that DML still have that pots and pans that surely is coming in the near future. Market tells you everything. Today's ECB NR [that was the NR I expected last Friday, but I was expecting much better than this you see.] You know that there are lots market disturbing factors contributing the DML's up and down, some factors are postive some negative, all together combined into a market place, and many hundred market players like you and John Paquet, and many other will make their own perception of what is happening in the market place, some factors are permanent, some are temporary, for example tommorrow, Alan Greenspan will have NR which will have some on US dollars which will have some impact on GOLD which will have some impact on gerneral market sentiment which will have some impact on OUR DML you see. We just have to open our eyes watch every possible NR or distrubing factors in the market place and make right decision on our trading or investment long term. All along I have been saying I am more interesting in global base macroeconomic events right than drilling local geological events, of course I watch some NR on that pots and pans. Good luck to you my dearest Winer!!!! and have a very profitable trading in the days to come!!! John....