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

To: Rarebird who wrote (27193)	1/28/1999 12:45:00 AM
From: PaulM	Read Replies (2) \| Respond to of 116788

Oil Industry Woes to Get Senate Hearing "The Committee will...consider...relief that Congress and the Clinton administration can provide, such as tax credits and buying oil for the nation's Strategic Petroleum Reserve." biz.yahoo.com

To: Rarebird who wrote (27193)	1/28/1999 7:19:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116788

<<In Short: a possible dead cat bounce today>> Dead cat due tomorrow through 4th-6th of next month. Then down bulk of the month of Feb. Two dead cats in March. June or July may see a little movement, but suspect Central Banks might continue to manipulate gold for the two year figure we heard from Meryll Lynch when the LTCM problem became public. Meryll Lynch said it would take "about two years to unwind LTCM" positions. I think that was around September. Our only hope may lie in Platinum silver & diamonds.

To: Rarebird who wrote (27193)	1/28/1999 9:33:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116788

Unlike Ole 49r, I don't think Clinton will be removed from office. However, that is not to say that I don't believe he should be for his actions, just that the political momentum is not there to achieve it (look at the party line votes these past two days). There just aren't enough votes to kick him out without some major piece of news that trashes his popularity rating. That means we may have higher prices to go. It all depends on how the market perceives the world. Some are saying we need to bounce off 7400 again in order to sustain further bullish behavior. Others are looking for a "blow-off" buying spree that takes us to, or past 10,000. Either way I expect a stronger dollar to attract capital from around the world to participate in one last hand at the US equities poker table. As people have noted the Euro is down against the dollar, based upon sudden recognition that Europe ain't so great economically. (little surprise...:0) The dollar will rule for the last stage of this deflationary stage. The US gov't has the political power and will to support their currency. Europe is exposed to a vast array of potential political timebombs ticking away within or on its borders. The US need only look south and north for physical threats (not discounting terrorism which is not economically threatening, but however plays a role in maintain psychology). As I believe others have stated gold is going to fall further as the dollar becomes stronger to the point that the Fed has to engage in a HUGE printing of currency to reinvigorate the financial system. Other than that, I agree that their will come a time when Gold becomes valuable based upon the psychological attachment people have for it. But the issue will be at what level of interest rates will the Fed reach a point where it has to hike interest rates to counter inflationary pressures (signifying a bottoming in pricing depreciations). That, to me, is when gold will shine. But that could be later this year or in 2001. The Fed and ECB are obviously willing to continue leasing gold to permit shorts to cover their positions. I also visualize a potential for the CB's to sell their stored gold to these hedge funds in quantities that would make their remaining short positions more manageable, in an attempt to prevent another global financial crisis. What would that do for the price of gold if that scenario should occur? Regards, Ron