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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Bobby Yellin who wrote (1787)	10/6/1998 1:35:00 PM
From: Ray Hughes	Read Replies (1) \| Respond to of 1911

Hi Bobby: Thanks for recognizing my feable attempts at keeping things on the light side. The alternative - to take seriously a bozo President, other leaders looking out only for themselves, the markets and manipulation behind them, etc. - could get a person down. When real business gets too serious, or confusing, we need to take a stroll with our less serious side. I did that last night, walking down the marina where I keep KATE, our sailboat, to do a little work. Picture a Northwest Pacific night with a waning sunset set against a storm torn sky. Quiet, except for the rustle of a fitful breeze and the flight or a resident Blue Heron. Markets be damned, I would have been quite content to slip the mooring right there and then and head out to Hawaii and beyond. Clears the cobwebs. This quiet time helped me reach through the clutter of a busy day involved with trying to facilitate a corporate merger, to make a decision that, once again, the authorities had succeeded in capping gold, keeping it within the $275 - $300 band. Time to buy ASA puts, looking to buy in around 14-15. I hope that gold's failure to solidly breach $300, perhaps to $325, will show gold's "true believers" that there are dark forces acting to keep gold's volatility so low as to preclude making solid, consistent and predictable profits, as Alan Greenspan spelled out in 1981. If a President believes he can, with impunity, obstruct justice, you'd better believe there are those in power who believe they can, with impunity, manipulate commodities markets for political and economic ends. Don't fight the guy who can print money, he's bigger than you and me. RH