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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (381)	7/22/1998 1:00:00 AM
From: PAUL ROBERTSON	Read Replies (2) \| Respond to of 81411

Bill and George, It does look like AG is trying to prevent a crash down the road.He should really keep his paws out of the markets.Technically,stocks are very overbought at this time.It will be interesting wether or not they can hold together untill year end.It is almost as if AG is unknowingly inciting a blow off,as if stocks turn higher here!!!Insurance stocks holding their vast asset portfolios in bonds seem to be the best bet at this point,providing a potential double kick.Out of many advisors I try to keep a tab on,few are bullish.All seem to be looking for a top in around this time frame and when betting as a group together,they are usually wrong.After listening and watching todays price action,it would seem that we are going to see quite an inversion on the yield curve. George,please do not get me wrong,gold is my favorite commodity.It reflects and measures so much as real money.I think new wave CB's are turkeys for turning their backs on it,but timing is everything and cycles say down at this moment.What is occuring to the Canadian dollar is sure to be a drag on gold. Cdn dollar is in a free fall as I write.Perhaps Bank of Canada should consider buying some gold back while the Canadian gov't lowers taxes drasticly.Technicals indicate possible gaps lower and reflect the annemic response by gov't to a very much more competative global economy of which Canada is poorly equiped due to antiquated taxation policy. As far as I am concerned,CB's are poorly educated economists all learning from the same textbooks.I believe this is why,with exception to a few,90% of them are wrong 90% of the time.They all study the same fundamental jiberish when they should be studying technicals as well. Technicals,I believe,actually teach one what is fundamentally important.The two go hand in hand while most have a tendency to focus on one or the other. Beyond a lower Cdn dollar,technicals and fundamentals are screaming lower yields and if you get lower longer term yields,the stock market is not likely to melt down,while yet again,technicals point to a higher stock market into next year. Hope you enjoyed the thoughts, Paul