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

To: Bill Murphy who wrote (27363)	1/30/1999 6:06:00 PM
From: Gord Bolton	Read Replies (3) \| Respond to of 116762

Now if you get every miner and stockholder to buy an ounce of gold, you can really make them squeeeeel. We can always sell the ounce back for a quick 50% gain!!

To: Bill Murphy who wrote (27363)	1/30/1999 6:40:00 PM
From: Zardoz	Read Replies (4) \| Respond to of 116762

Congradulations on appearing on CNBC. Takes courage to appear there. "Wall Street shorts that have terrorized the gold community." No they haven't. Wall Street cares very little about GOLD. That's even on more reason why it's falling in price. "We will ask them to disclose their gold short positions because of suspected "anti-trust' violations. They "CANNOT COVER THEIR SHORTS IF THEY HAD TO IN AN EMERGENCY". We think they are short 3,000 tonnes." Well both of these two statments show a lot. You don't know their positions, and you say they can't cover their positions. So what your saying is that you don't know how they are short, or even if they are short. You quote others people short positions as being the actual amount. I've shorted stock before, while owning the stock. This is a covered short. Have you ever considered that? Maybe the have the actual gold? Maybe they have some locked in OTC options, or futures, with others whom have the gold? As I said before:"If a hedge funds KNOW that there is this large UNCOVERED short position out there, they'd be the first to jump on the GOLD BULL band wagon. Do you really think that they'd give up a large hit? They could buy option on the futures, at for june 29000 {let say} for $7.3 in volume, and force execution. So they could even flood the whole option forwards to 35000 without much effort, or cost. and just start demanding delivery all the way. Yet they fail to add to the positions. Why. Because Gold is technically at an over premium position. Even more so, since thursday. So what why did gold climb? "Question: Is gold's price remaining depressed because of a conspiracy to keep it low? Answer: There is no way to know whether or not there is such a conspiracy, but even if a conspiracy exists, it is a very minor reason for the low price. Gold investors are primarily interested in two qualities: 1) gold's appeal as an alternate investment to stocks and bonds; and 2) gold's role as a hedge against inflation. As long as the stock and bond markets are performing strongly, and inflation is decreasing, gold's price will remain depressed, conspiracy or not. The fact that the stock market is currently relying on a tiny number of blue chips to keep it going, while inflation is also picking up very slightly after years of decreasing, makes it likely that these two conditions will see a sharp reversal over the next few years. Once such a reversal becomes clear to the average investor, flows into gold mutual funds will be far more than sufficient to overcome even the best capitalized anti-gold conspiracy." goldminingoutlook.com I don't agree that gold funds will see a cash inflow for yeras, or that a correction would even cause a gold increase. Indeed, it may cause a reduced POG.

To: Bill Murphy who wrote (27363)	1/30/1999 7:58:00 PM
From: Hawkmoon	Read Replies (4) \| Respond to of 116762

Bill, What happened to the alledged 8,000-14,000 tonne short position? Btw, as I've stated before in other posts, what prevents the CB's from all getting together and selling off their gold to bail these "highly leveraged institutions" out. Or better yet, do as Al Gore suggested at the World Economic Conference, and have the IMF sell off their $30 billion in gold reserves so that money can be reinvested in assisting developing countries with their economic recoveries. Aside from the argument you have about how prudent it is to have a gold-backed currency, isn't it still evident that the CB's have some very heavy hammers left in their inventory for pounding down the price of gold? As I've said, a rising price for gold threatens the current financial system. The CB's will do anything to protect that system. After all, what have they got to lose by doing so?? Regards, Ron

To: Bill Murphy who wrote (27363)	1/30/1999 10:43:00 PM
From: C.K. Houston	Read Replies (3) \| Respond to of 116762

Bill, I commend you for what you are doing. Such a logical and thorough presentation. You spelled it out. I'm just a lurker on this thread. Though over past few months I have now accumulated a substantial position of my portfolio in gold stocks. Probably the craziest thing I've ever done with my investments. I usually do a helluva LOT of research BEFORE I invest. And I have to know and understand the company, market and trends before I do invest. I didn't do it this time. I invested in one of the gold "Blue Chips". Just something I'm sitting on. Women's intuition. A hedge against this irrational market. Last week I got a call from someone with a seat on COMEX. He was referred to me because of my expertise and research in Y2K. He wanted to have me consult on when panic would set it on this whole Y2K issue, so he could time his precious-metal trades. I haven't decided if I will or will not consult. I'm not a rich person, but I have to LIKE who I do business with. I don't need money that bad. In any event, he called 4 times. We spent more than 3 hours on the phone. He's only in NYC about 10 days a month. Only trades his own money. Very likable person. Doesn't depend on precious-metal trades for income, though apparently does very well. I've been following this thread for some time, and feel a loyalty to "the good guys" and some who are here and who have become my "cyberfriends" over the past few years. I'm tired of manipulation and little guys being screwed. For what it's worth, and it may not be worth much. I thought I'd share what "guys in the pits" are saying. Apparently they're banking on Y2K panic to make big bucks: - China & Russia selling helps depress price now - Gold will be $600 before the end of the year - Expect to make a LOT of money because of Y2K - Think Y2K panic will hit December '99 and January '00 - Planning on shaking out the "little guys" first with a DEEP pull back - Expect GREAT volatility (like internet stocks) later in the year. Then, lots of churning with BIG money made daily. - Until then trading, with price increasing around option expiration. (Hope I got that right. This is all new to me.) - Most important (and unfortunately, remember I don't understand how this whole option/put thing works) ... something about when volatility increases ... premium will triple. Little guys will be forced to cover. That's how and when little guys will be shaken out. Don't know if I contributed anything meaningful to the discussion on this thread. Hope I did. In any event ... He and the guys in the pits are basing strategy on the theory that "Y2K Panic" will arrive in Dec-Jan. That's a JOKE. Will happen WELL before the. But, that's currently their time-frame. With that time-frame in mind (panic hits in Dec-Jan), word "from the pits" was that deep pullback would occur around August. However, IMHO, Y2K panic will happen much sooner. General public might not get it. But required SEC statements are already starting to spell it out ... and it ain't pretty. I posted the info re National Guard on this thread for a reason. Obviously many didn't understand, or only have $$ in their eyes, and don't realize that some meaningful bit of information might be out there that might flesh out the whole picture. I don't know EXACTLY when "Y2K Panic" will initially occur. There are already so many global "panic" situations out there right now. Y2K just magnifies what exists. But, that's where the "guys in the pits", trading gold, are seeing the BIG bucks - "Y2"K. Personally I hope they're timing is off - and, they get scrwed. As well as many Market Makers and BIG name brokerage firms that do Up-Grades & Down-Grades solely to make a buck. They're all prostitutes IMHO. I shouldn't complain. I've done well. But, I learned to trade on my own and not depend upon, nor pay, purveyors of mis-information. I've just seen so many "little guys" getting screwed, not seeing what goes on. Oh the big brokerage firms will do fine in the long run in a bull-market. But, they scrw the individual, small-retail investor in the short-term. Hate to think what happens in a bear market. ENOUGH OF THAT. BACK TO ISSUE AT HAND ... "Y2K Panic" will DEFINITELY happen well before the Dec-Jan timeframe the "guys in the pits", trading gold, have been looking at. But, it's hard to call exactly when. My guess is late summer, early fall. SO, I GUESS TO SUM IT UP ... A "shake-out" is planned. I have NO idea if it's at this level, OR after an artificial run-up. My guess is after a brief run-up. (Gold's already pretty low, so I'm just sitting on what I have.) And then eventually, they plan a BIG, BIG run by year-end. NOTHING MAKE SENSE ANYMORE. PAST HISTORY AND LOGIC? NO CORRELATION TO THIS CURRENT MARKET. I feel like Alice, in "Alice in Wonderland" ... Fell down a hole and everything is upside down. Some of you who like to talk theory, from IMHO can talk theory till your blue in the face. It's a new ballgame. Maybe it's an old ballgame, just different players and different rules. But, when push comes to shove ... whoever has the biggest bucks and biggest position ... or knows others that do ... they call the shots. Last conversation I had with the guy with seat on COMEX was, if you're in NYC, I can get you on the floor and you can see how this works. Good luck to us all, Cheryl