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

To: James F. Hopkins who wrote (15922)	6/21/1998 10:26:00 PM
From: yard_man	Read Replies (2) \| Respond to of 18056

Agree that many pushing gold are a tad over-optimistic. As you point out -- that is their job -- they are sellers! However, there is a very large short position in gold, even now and a short term (unsustainable) doubling of the price is not impossible on some kind of shock. It's like you said, insurance. Now on another note regarding the market. I think earnings estimates being made now are rosy --even the following which I picked up from YHOO: >>Gail Dudack, chief investment strategist at UBS Securities, said she expects to scale back her already modest forecast for 5.0 percent growth in earnings of Standard & Poor's 500 companies this year. ''There was nothing in the first quarter which suggests earnings are going to grow much at all in 1998,'' she said. <<