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basserdan

12/27/04 6:11 PM

#338600 RE: PENNYPRINCE 1 #338580

Ok Dan Lets see how the year ends. Hopefully a the new year gets off to a new start.
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You aim low, James.....
I, for one would prefer to see the New Year get off to a good start than just a start that is "new." <g>

I think it's reasonable to feel that virtually all of the PM tax loss selling is now over and, frankly, I'm not even sure the usual 31 day wash rule will be much a factor this year as I tend to think that many of those gold share sellers who got caught in the oft repeated PM share value downdrafts have either moved their bux into GLD or, heaven forbid, the general markets.

That's why I think the relative strength of gold shares has been lagging the PoG since peaking in early October as this chart of the HUI compared to the PoG seems to show in no uncertain terms



And regardless of what that noted PM expert, financialadvisor <gag>, has to say in his usual unequivocal bombastic manner, I think that if the PM's don't rally fairly hard and fairly soon, say by mid January, I think the new feeling of optimism, that I perceive in the majority of stuff I read on most PM boards, will simply cease to be and could easily snowball into another major exodus from the PM's.....

That's the danger in being overexposed in a market in which the riggers have both the ability to read the charts that we read, as well as the necessary finances to influence, to some degree, what those charts seem to portray......

Some folks might say that the 'riggers' try to set us up with promising chart patterns...... and yes, right or wrong, I'm one of those folks.

Been there..... seen that!

So good luck, James, and try to protect yourself in the clinches by not over committing yourself.