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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Matt C. Austin who wrote (6549)	7/7/1998 10:59:00 PM
From: JACK R. SMITH JR.	Read Replies (2) \| Respond to of 14226

Matt, I wish to illustrate a point to all here. For every bigmouth like me and some others whom I will not mention, there are other serious investors who say little, yet carry a large stick, if you will. Mike and his associates appear to fall into the latter category. In most cases, investors who take large positions say little and speak to the market and not to the threads, if you know what I mean here. They vote with the bucks and not with the mouth! I, personally am still learning, and I say that with a humility that the market is teaching me day by day. I do not understand, and perhaps never will. Let me say that the market is a hard taskmaster! Mike is from Canada, and I just took a loss on Canadian Dollars. Not his fault for sure, my fault. I thought that it would run, but it tanked. Do not worry about me, I will be ok. I learn as I go. I will take my loss from CDN dollar, because I wish to do so. I will watch it and I will do it. It may take some time, but I hate loss. I may loose more, but I will take back what I lost. It is a principle with me. No, I am not crazy, it is just the way that I operate. I hate loss. I hate it with a passion. My thought for the day is to buy out of the money puts on almost any Internet stock that you can name. Better than that is to buy out of the money leaps on any where there is a market. This insanity will soon come to a screaching halt, and it will not be pretty!! I am seeing some breaks already! Platinum is stronger than I thought, mia culpa! Palladium is rumbling a little also. Any runs in the precious metals here and that may happen should be viewed as short term opportunities, and we should wait for the stock market to top out at about (S&P 1200). I am looking for a small pullback in the stock market here, but then a higher high. As I said, we are in a sector market here where folks are looking for the next "Microsoft" that is the impetus behind the run on the internet stocks which are (hollow reads blowing in the market wind)-- The next impetus may well be the biotech and pharmaceutical area, but I do not know that for sure. Longer term, I am beginning to be positive on the following: Domestic Petroleums who are well positioned, particularly smaller ones, Some Oil Service with good fundamentals, Certain specialty steel producers, certain specialty metal fabricators with very good fundamentals, Selected biotechs who are coming into production and forming alliances with large pharmaceutical firms, and certain large pharmaceutical firms who are forming those alliances. These are my views, and I advise no one to follow me, because I am largely unsucessful. If one follows a looser, then he will be a looser for show! Loozer, Jack!!