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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: nihil who wrote (36796)	9/7/1998 10:58:00 PM
From: Jim McMannis	Respond to of 1580458

Nihil, Seems bit ironic that you are long on the Japanese market and not so long on the yen. Gold, I'm not a goldbug or long term holder of gold stocks but the leverage they bring makes for an interesting trading tool from time to time. With the XAU up 30% in the last few days it's obvious that the gold "alternatives" may have been a little too expensive. Even a rally to a lowly $300 could get us another 30% in the gold stocks....not without a retracement first. As far as new technology and the PO mining an oz of gold. No doubt it's dropped. Avg about $270 the oz but I never can get a clear take on how they figure that. Then there are mine closings, envronmental considerations, higher labor costs not to mention Central Bank Selling. The CBS may be slowing now that Russia and some other quasi marginal countries need to bolster their currencies. I think some will try to back with gold...I don't think it's possible to back with the dollar. <G> The rumor that ABX will end their forward selling hedge is just that, a rumor, with the information you have...seems like they wouldn't want to to that unless they can't sell all their gold. Seems like if the dollar weakens a lot of things get healthy in a hurry. Holding it lower is another story. I agree, with you, I'm leery of this drop in the dollar but I'll trade it none the less. Jim