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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (225)	10/6/1998 9:04:00 PM
From: Andrew N. Cothran	Respond to of 48092

Papaya King and Wade: And I agree with both of you. I watched the action in gold in the late seventies, including the rush to the high eight hundreds. In fact, I participated in that rush even though I chickened out long before the price hit the highs. Since then, I have watched almost 20 years of decline. Now, I think that the bottom is in and that the financial situation becoming evident throughout all the trading and industrial worlds will bring gold back to the fore. I,like you, am not a trader. I learned a long time ago that the trend is your friend. If one is lucky enough to get in at the beginning of a trend, then he can ride comfortably for a long long time, despite the false corrections and the fake pullbacks. But I learned another important lesson twenty years ago. Never load up your wagon with more goods than you can easily pull. Greed will get you in as much trouble as fear. Take a reasonable position as early as you can once you are convinced of the trend and then sit back patiently and enjoy. Another thought. Today's baby boomers know absolutely nothing about gold and how it works in the overall monetary system. They have been brainwashed into believing that gold is merely another commodity and should be treated as such. Who needs gold when there is so much money to be made in Dell, Microsoft, Cisco, Yahoo, America Online, etc. I think the boomers are getting their first real taste of what decline means. And the smart ones will not view the recent collapse as just another wonderful buying opportunity. Maybe, just maybe, a few of them will discover gold. But most of them will come much to late to the developing party.