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> Stig O.
> Did you happen to catch the commentary piece this morning on CNBC regarding
> gold.
Sorry, Don I live in Denmark and miss the CNBC action. They transmit when I cook dinner
Well, not sorry actually.....
> I only caught the last part about how world banks have been doing
> things with their gold reserves (lending them out) to get a better return or
> something. Wish I had seen it all so I clearly understood the story he was
> trying to tell but it may be of interest to you. Maybe someone else saw it
> and could expand a bit?
> don ewers
There have been several articles on the subject the last 12 months. As a matter of fact, I think we had a rather heated discussion on RT some time ago.
If you care to dig through all the words in the article below it's all there, but it's a bit long one so I will not post it. Check the links below, which actually I posted a couple of days ago.
If you are getting interested in Gold, check out the Gold-eagle website. They have several articles on gold
i am also including another post from Gary Smith (his answer to another post)
Enjoy
http://www.gold-eagle.com/gold_digest_01/joubert031201.html
http://www.gold-eagle.com/gold_digest_01/hamilton031201pv.html
> From: Gary Smith
Subject: RE: RE: The no fear, be happy, let's keep picking the bottom bear market.
Views: 70
Date: 3/14/01 6:57 PM
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Hi Lee,
I respect Bollinger as an analyst and researcher. However, to date, you have to give credit to the Investors Intelligence poll as being right-on. As you recall, Drak had pointed out not that very long ago that II poll was showing bullish optimism at 14 year highs. That seemed strange in light of a nasdaq that was down over 50% from its highs. In hindsight, that would have been one heck of a place to sell or go short. I will have to say re. sentiment polls that I think (and have thought for years) that polls like the AAII index (American Association of Individual Investors) is pretty worthless as a timing tool. That poll is too volatile. On the other hand, I think the Consensus bullish percentage poll is dynamite at calling short term bottoms - especially when you get a week or two of readings of 20% and lower. Jeff Cooper said bottoms are a process. If this bottom is a process like the past, it will takes a period of many weeks or months where pessimism reigns supreme and that should be reflected in the II numbers. My experience is lots of investors are scared but few are selling since they have been so conditioned over the past decade of the market coming back.
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