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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (352)	3/28/1999 11:28:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Richard, et al, Barron's GMI was 316.83 on 3/25, up slightly from 314.77 the previous week. With the POG up to 279.80 (3/26), the ratio is 1.13, up slightly from last week's 1.11. It continues at a level that is nearly off the chart and, based on the date referenced in post 10, it is in the range of values that strongly suggest the XAU will be substantially higher within a year. Cheers, Larry

To: Richard Mazzarella who wrote (352)	4/25/1999 1:26:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Richard, et al, Barron's GMI was 348.85 on 4/22, up from 326.47 the previous week. With the POG down slightly at 283.30 (4/23), the ratio is 1.23, up from last week's 1.15. It has finally moved to a level that is not nearly off the chart but, based on the date referenced in post 10, it continues in the range of values that strongly suggests the XAU will be substantially higher within a year. A year ago the ratio was 1.56, up from the 1.2s a couple of months earlier. For what its worth, Columns in this week's Barron's have at least three tid bits that should be of special interests to those that follow PM stocks or funds. Abelson includes a plot (reproduced from work of Merrill Lynch's Clough) of the 13 week rate of change in M3 and it shows the growth dropping dramatically from a high o 16% in late 98 to about 2%. A second is Gene Epstein's explanation of why "the sudden revival of cyclical stocks may have some staying power". The third bit is what I see as a somewhat contrary view presented by Pesek, Jr. in his discussion of the rapid flow of capital flows back into emerging markets, which is stimulating their stock markets, without changes essential to reducing risk and assuring greater economic stability. Cheers, Larry