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I do agree that (as you say):
"our jobs as traders is to go with the flow "
is good advise,.........but, when you said:
"at the moment there is no change in the disinflationary
environment and any "predictions" otherwise are premature at
best."
Fundamentally speaking, I will agree with you on this one. On the
technical side.....there may be a few warnings. It is nothing I would
bet the farm on, but as traders I believe it is important to watch for
the early signs. The attached chart of the CRB, is showing a decade
low (possible double bottom), and gold's long term trend (for this
decade) has generally tracked the CRB. Don't misunderstand me....
I AM NOT predicting a turn in the market, just something to watch
for. Of course, next week when the prices turn down and break this
support level..... I will wonder how I could have ever come up with
this <grin>.
Regards,
Adam Hefner
----- Original Message -----
From: rlopes <rlopes@xxxxxxxxxxxxx>
To: Alexander Levitin <alevitin@xxxxxxxx>; gary bodnar
<gbodnar@xxxxxxxxxxxxxxxx>; charles meyer <chmeyer@xxxxxxxx>; BobsKC
<bobskc@xxxxxxxxxxxx>
Cc: Larry Muir <trdoptions@xxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Wednesday, July 21, 1999 6:09 AM
Subject: Re: Gold is the garbage, gold stocks are not worth the paper ...
> gold is not oil, oil is used world-wide each and every day. Gold is no
> different than any of the other commodities which are currently at
> pre-inflationary/disinflationary/deflationary times. why should gold be
any
> different. our jobs as traders is to go with the flow (not defend where
we
> "think" the value of a given investment should be) and then change
> directions when conditions change. at the moment there is no change in
the
> disinflationary environment and any "predictions" otherwise are premature
at
> best. so until conditions change, you won't find my money wasting away on
> the long side of gold waiting for some "conspiracy, apocolpsy,
catastrophy,
> or inflation spiral to take place. and this idea of value based on past
> prices is entirely erroneous. Live in today, you'll do much better.
>
> Sincerely,
>
> Randy Lopez
> ----- Original Message -----
> From: BobsKC <bobskc@xxxxxxxxxxxx>
> To: Alexander Levitin <alevitin@xxxxxxxx>; gary bodnar
> <gbodnar@xxxxxxxxxxxxxxxx>; charles meyer <chmeyer@xxxxxxxx>
> Cc: Larry Muir <trdoptions@xxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
> Sent: Tuesday, July 20, 1999 9:27 AM
> Subject: Re: Gold is the garbage, gold stocks are not worth the paper ...
>
>
> > 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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