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Nice thought. Gold is about where oil was a few months ago. They've
thrown in the towel. The sellers have sold and the shorters are deep in
the money. It may have a little more to go on the down side but it has a
lot of room on the upside. When oil was in the commode, I bought 12K of
RRC at an average of a bit less than $2 per share and sold it recently at
$6 1/2. I've been buying gold stocks for a couple of weeks now and
continue to do so.
Good trading,
Bob
At 08:33 AM 7/20/99 -0700, Alexander Levitin wrote:
>At 04:46 PM 7/19/99 -0600, gary bodnar wrote:
>
>>Gold has no value these days..
>
>>Industries have no use for that expensive metal.. and who want to carry a
>gold
>>bag on the neck??:)) Seriously, only downside to the Gold is the gold
>>miners as well as who's long now..
>
>Very soon we would have to pay for the gold disposal as you do for the
>garbage. Gold stocks are not worth the paper they are printed on. England
>selling gold. Switzerland selling gold. IMF selling gold. Gold is going to
>be deleted from periodical table. Humanity will abandon its 10,000 years
>habits.
>
>Where were those people when gold was $800 per ounce? Did they took
>advantage of the opportunity?
>
>The sentiment is about right for the end of the bear market in gold.
>Especially encouraging is sale of the gold by English government. If any
>one care to check history, English government has uncanny abilities to sell
>precious metals at the bottom. (Look sales of silver in the beginning of
>century).
>
>In any case Hecla mining is $2 per share. It is 80 years old company. Could
>it disappear? Yes, companies as people do die. But if you take a chance I
>guaranty you your losses will be limited to only to $2 or 100% of your
>invested capital.
>
>Just a thought...
>
>Yours, Alex.
>
>
>
>
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