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To: Jim McMannis who wrote (14680)	7/19/1998 4:13:00 PM
From: C Hudson	Respond to of 116764

"Take a look at the XAU during the 1987 crash. Lost 40% of it's value in 3 weeks. Money went to bonds and cash." Jim I don't think that applies to 1998 when the price of gold is much lower than then and sentiment towards Gold has never been worse. The only people left in Gold are Goldbugs or people who still use it as a hedge. The whole sector has had its crash. Even the few Mutual Funds that are gold related don't have all their holdings in Gold Stocks anyway. Actually, when the crash or correction occurs, Mutual Funds will bring everything down except possible gold because so little is held in that sector.

To: Jim McMannis who wrote (14680)	7/19/1998 7:13:00 PM
From: Richnorth	Read Replies (2) \| Respond to of 116764

You wrote, "NOT NECESSARILY. Take a look at the XAU during the 1987 crash. Lost 40% of it's value in 3 weeks. Money went to bonds and cash." --------------------------------------------------------------------- The XAU dropped during the 1987 Crash because it has reached a maximum at that time and so was due/ripe for a downturn. And it happened according to expectation! At present, according to Jim Dines (Dines Letter), the XAU stochastics had come down to "OVERSOLD" levels which means that gold stocks should rally soon from here. I certainly hope he is right.

To: Jim McMannis who wrote (14680)	7/20/1998 2:34:00 PM
From: Lucky Lady	Read Replies (1) \| Respond to of 116764

Jim, bonds and cash or just paper based upon trust...people are going to lose trust and want commodities. Remember,this administration has been in office for 5 YEARS! NOW they are addressing y2k ...too late... See Senator Bennett's understated (yet still alarming) warning: techweb.com Clinton said the government computers were to be compliant by March 31, 1999! Not true, even the critical systems will not be fixed by Dec. 31, 1999. There is a real possibility of a global depression which would not build faith and trust in paper nor this administration. The churches should experience revival and metals should benefit. Also, gold increased in value in the 1929 depression.