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

To: Hawkmoon who wrote (25248)	1/1/1999 10:40:00 PM
From: Rarebird	Respond to of 116764

Ron, as you so eloquently state, there is a lot of Fear of Central Bank selling, keeping a temporary lid and some downward pressure on the POG at the moment. Markets hate Uncertainty. I look at risk vs reward ratios 9 months to a year out. Perhaps I'm guilty of being a rational investor, a value player. Central Banks, as I see it, are going to have their hands full dealing with a lot bigger crises than the POG as 99 unfolds. Almost everyone, including most Goldbugs and many Gold Bulls are calling for a much lower Gold Price in the first quarter of 99. Gold will fall to $200- $250. I heard this same extreme pessimism on the Pharmaceutical companies in 93 and the tobacco companies last Spring. Dow 11,000 is the target for 99. What excessive optimism! It all sounds so perfect, except for one thing: The market has a way of humbling everyone, especially when sentiment reaches an extreme. There is BLOOD in these Gold Mining Stocks right now. Their hemorrhaging all over the place right now over Fears of Central Bank selling. But what if the European CB's don't sell! A lot of Bad News is already priced in the XAU. The PPI and CPI should be quite strong this month. Ron, Fear is a funny emotion: If it doesn't get realized, Relief and then Exuberance takes over. The Morale: Watch out for an upside surprise!