To: JACK R. SMITH JR. who wrote (6666 ) 7/13/1998 9:38:00 PM From: JACK R. SMITH JR. Respond to of 14226
Richard, I wish to make a further point here before I dismount from the "high horse which you say I have been riding". Check my posts. I have never, never chided a new poster on any point. I tend to disagree with those who profess to have a larger view. I wish never to mislead a small investor in any endeavor. I diverge in philosophy from you and Zeev in that I am a longer term investor, and take a longer term view. The large view from a "short term investor" will, by and large diverge from the "long term view of a long term investor", and that can be said with certainty. On most threads, we hear the chatter and caltrop of "short term investors and traders such as yourself and Zeev". You may be right in the short term and very wrong in the long term. I remember when Zeev was very positive on a landlocked oil deposit somewhere which required a large pipeline--Well, he missed a much larger deposit in the Caspian Sea area which has all the adroit investors and companies more interested. Let us not mislead, first and foremost. Lets face it, I have my ideas, you have yours, and Zeev has his. Let us take it for what it is, and that is personal opinion, Period! I may be right, or I may be wrong, and let us tell everyone who views these threads what we are expressing. I have very basic differences of opinion which I will express and they can be disregarded at will. Simple as that! Let me reiterate them here! Platinum--near high here Palladium--trading range Gold--neutral Silver--neutral Copper--short term + Corn--+ Cotton--Watch for recovery, but be careful Oil complex--near recovery U.S. dollar--down Dm--up Jy--avoid BP--up CD--avoid For the brave-- Live cattle, buy, Pork bellies, buy,but be careful-- Ok--Now for the big prediction for GPGI! Logically, I could predict a 50 or 61 percent retracement of the recent high, but this is not a normal situation. I would expect some retracement after the superb rise from the decling pennant formation and with some negative interference. I view the trend change as valid and predict that it will continue. There may be some pullback from current price levels and some consolidation, perhaps, and I Issue a caveat here. So, there you know my thoughts, right or wrong, and this is spoken on the 13 day of the month of July, Year of My Lord, 1998! Pogo, Jack!