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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (23946)	12/7/1998 5:01:00 PM
From: Giraffe	Respond to of 116764

from buysignals.com Monday, December 7, 1998 Buy Nova! The expected turn up in gold stocks in the first week of December is unfolding but with noticeable lack of strength. Gold is up $3 and stocks are well off their earlier intra-day highs. A close above XAU 69-70 (now 68) is required before a reasonable risk:reward develops in this sector. Meanwhile institutional money is being forced into the market and is concentrating on the large-cap tech stocks in the NDX Index (OTC Fund). Cisco Systems and Intel are hitting new 52-week highs and others are close to theirs. Broader market breadth isn't impressive but that is to be expected when available cash is focused on one sector. From a conservative investing perspective, concentrated buying power in tech stocks has made them extremely over-valued and expensive. They may continue to run up or they may be hit with another round of unexpected profit-taking. Either way, risk:reward is not favorable. While we wait for gold stocks to prove themselves, Nova's 50% magnification of the broader market provides us with a more comfortable position in stocks.

To: IngotWeTrust who wrote (23946)	12/7/1998 9:03:00 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 116764

Rose, RE:"Hutch"... I see you are on the attack again. I certainly do see him as a goldbug. I doubt he does thriftshop prospecting or pulls crowns from cadavers teeth. Actually his TA is pretty good and a lot like what I do. A conventional goldbug as yourself just sits around dreaming of ways gold can go UP and hopes for a disaster dejour...this hasn't worked well for many years...meanwhile your shares sink and you get so far underwater you wonder if you'll ever get even... If you're waiting for Y2k to bail you out, good luck. It's a crap shoot... Jim