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It's not so much trashing gold, it's trashing the idea that everytime gold
gets "cheap" one should go and buy gold because some calamaty in the world
is going to cause great price appreciation. I have been trading for 15
years and started out as a broker/dealer in bullion, coins, and futures and
these people who continue to tout the virtues of gold typically are scare
mongers, fear would have been the only reason to have purchased gold in the
last 18 years. I think it is important to look at the issue of price
changes that may be significant and not just wiggles or short-covering
rallies in what has been a down-trending market. I believe it a mistake to
attempt to pick major tops and bottoms. I have lost my fair share of money
with that strategy. Now if gold's downtrend stablizes and actually takes
out a previous reactionary high (no matter what currency you trade it in)
and there appears to be a shift in what is taking place within the market
that one can reconize(such as what has taken place in oil this year) then
by all means speculation in gold, looking for price appreciation, is worth
venturing into. but to take it to the point of suggesting(not Ira) that
there is some conspiracy or other such excuse to make some ego driven stab
at why this is the bottom in gold is useless. This very well could be "the"
bottom, I don't know, I'll let the market show me. I don't need bottom tick
to make money in gold. I had just wanted to point out that in this
disinflationary environment, it doesn't pay to pick bottoms in gold,
soybean, etc until we can determine with some validity that the
disinflationary environment is actually changing with some significance.
Now that I've rambled on... I've said my peace about bottom picking
Good trading
Randy Lopez
----- Original Message -----
From: Ira <ist@xxxxxx>
To: rlopes <rlopes@xxxxxxxxxxxxx>
Cc: Alexander Levitin <alevitin@xxxxxxxx>; gary bodnar
<gbodnar@xxxxxxxxxxxxxxxx>; charles meyer <chmeyer@xxxxxxxx>; BobsKC
<bobskc@xxxxxxxxxxxx>; Larry Muir <trdoptions@xxxxxxxxxxx>;
<realtraders@xxxxxxxxxxxx>
Sent: Tuesday, July 20, 1999 6:18 PM
Subject: Re: Gold is the garbage, gold stocks are not worth the paper ...
> Everyone seems to be trashing gold. If you would like another perspective
run a
> chart of gold in D-Marks, Yen, The Russian Ruble, or any other currency
then the
> dollar. You can do the same with oil or any other commodity that is
traded in
> dollars. You will note that all those charts show gold as an excellent
buy if
> you can't purchase US dollars, as one can't do in many countries. Ira.
>
> rlopes wrote:
>
> > 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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