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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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