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do you follow marty armstrong of the princeton economic institute? If not let me know and I'll write you direct about what
he says about gold. I value his outlook. PEI manages about 2.5 TRILLION in assets.
ramon
Robert Doeden wrote:
> ------------------------------------------------------------------------
>
> Subject: Re: Wednesday's market action
> Date: Wed, 29 Oct 1997 17:54:35 -0600
> From: Robert Doeden <bdoeden@xxxxxxxxxxxx>
> Organization: MindSpring Enterprises, Inc
> To: Greatelto@xxxxxxx
> References: <971029104742_396579238@xxxxxxxxxxxxxxxxxxxx>
>
> Re: my gold comment. I trade futures because it is a fast way to make a lot of
> money. I've personally gone from very little to a lot by buying that which no
> one wants. Tell me of something that most want less than gold. I can't think
> of an investment that is further out of favor. So I buy a couple of contracts
> and watch the action. If I'm wrong and have to sell I lose maybe $3,000 max.
> These days my accounts go up or down 25-50,000 every day. So $3,000 doesn't
> amount to much. But if my feel starts to look Ok I add some more contracts. On
> a move back into the 330's I will make $15,000 on a small 10 lot position.
> That is worth the risk. Sometimes I'm right, sometimes wrong. But I don't see
> many sure things and you have to take a chance. I find that there is a lot less
> risk buying that which no one wants than that which everyone wants because of
> the obvious. The sentiment of those which want something badly can change on a
> dime and then you are looking at air pockets. I don't believe in that momentum
> bs where you buy something because its doubled and there will be another fool
> around the corner. I do believe in looking for that which no one wants and then
> waiting until it shows signs of life. My weakness is that I'm usually early and
> that is why I start with a small position and add later.
>
> By now I've put you to sleep so I'll quit.
>
> Bob Doeden
>
> Greatelto@xxxxxxx wrote:
>
> > Bob Doeden wrote....
> >
> > >I hope no one is fooled by the action of the market today.
> > It was completely programed by the financial powers who run
> > this country and executed by CNBC.<
> >
> > You have got to be kidding!!
> >
> > > At the very least I'm going to wait to
> > see if there is a test of the low. If I'm wrong and this
> > keeps going I'll miss a few points but I would rather be
> > safe than sorry.<
> >
> > Should be part of the normal course of events.
> >
> > >Saw a metals analyst from one of the major
> > firms (maybe Morgan Stanley, not sure) who talked in favor
> > of gold yesterday. He basically said the current price is
> > below the average cost of production so there should be a
> > spate of mergers among the producers and a shutdown of high
> > cost mines which will reduce the supply<
> >
> > Why not buy a low cost producer? It should be noted that the Swiss now want
> > to sell gold. Who is next?
> >
> > Jerry
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