WOW! Nice recovery on the stock market. The NASDAQ is about 30 points from it's record.

-- (DowGuy@wallstreet.com), October 06, 1999

Answers

Nah, that's not a recovery. The DJIA has not even retraced 50 percent. I don't think the S&P has either. And forget the Value Line. The Nasdaq is still being moved by a few huge stocks. Hence, the "market" has not recovered- it's still a big cap world...

The NYSE move above 600 & the DJIA ability to hold 10,400 on closing basis were both positive, but so far, I haven't seen the signs of a real selling climax, so I'm not sure we've seen the final bottom.

-- Drew Parkhill (y2k@cbn.org), October 06, 1999.

Drew, is this a bull trap?

-- Margaret J (janssm@aol.com), October 06, 1999.

DowGuy - There will probably be two losers for every gainer today. Face it, the bear market has started.

You can't buck the trend my man. And the trend is Stocks H Precious metal G

-- a (a@a.a), October 06, 1999.

Drew,

What is your take on precious metals vis a vis the stock market?

-- David Palm (djpalm64@yahoo.com), October 06, 1999.

ASL Ashanti just defaulted on their Gold Hedge.

-- David Lee Roth (Diver Down@Van Halen.ou812), October 06, 1999.

Margaret,

Well, we did hit my minimum price target for the downside in the recent selloff, but we did not reach the lower (and possibly more likely) targets. Also, we did not get the normal indications of what's called a "selling climax," meaning the sellers have exhausted their power, and now buyers are going to take over again. So it's *possible* we've hit the bottom of this corrective phase and will bounce around for a while before heading somewhat higher, but I wouldn't bet the farm on it yet.

David,

It depends on your time frame, and your view of Y2K. One key point on gold is that it was sitting right a major technical support area of $250, and sharp rallies are common in a bear phase (remember gold running wild a few years ago?) So a rally here was not particularly surprising for those reasons alone.

On a longer term basis, Y2K excepted, all the reasons which favored stocks over almost anything else for the last near-20 years remain in place. That doesn't mean we won't see bear markets- the overall market has been in a bear market since April of 98. And even without Y2K, I would expect a bear market even in the big caps at some point in the next few years. Absent Y2K, Dow 18,000+ by 2007-9 is a chip shot in my opinion. Insofar as gold goes, we'll have to see clear moves above $460 or so (off the top of my head) to call it anything more than a cyclical rally in a secular bear.

-- Drew Parkhill (y2k@cbn.org), October 06, 1999.

Just postponing the inevitable, that's all. The bigger they come, the harder they fall. Please report back to us in November Dow Guy. I'm interested to see how you will react if Greenspan hikes interest rates.

Just curious, if you are so certain that the stock market is a never-ending Bull run, then how come you're not invested? What is your motive for cheerleading this bubble economy? The only thing I've been able to discern from your strange behavior is that you appear to have some kind of vendetta against goldbugs. What happened, did you lose your ass in gold a few years back or what?

-- @ (@@@.@), October 06, 1999.

Thanks, Drew.

<< ASL Ashanti just defaulted on their Gold Hedge. >>

Link, please.

-- David Palm (djpalm64@yahoo.com), October 06, 1999.

This is what I found on Ashanti May not be what you are looking for but can't be good. ______________________________________________________________________ ______________________________________________________________________

Ashanti Goldfields Company Limited

Further Restructuring of Ashanti's Hedge Book

LONDON--(BUSINESS WIRE)--Oct. 6, 1999--Further to the announcement of Oct. 5, 1999, Ashanti Goldfields Company Limited (``Ashanti'' or ``the Company'') announces that it has entered into a temporary standstill arrangement with its hedging counterparties in order to give the Company time to work out a more permanent arrangement with its counterparties. Under this arrangement the counterparties have agreed not to make margin calls or to take certain other actions in respect of the hedging contracts.

In the meantime, the Company is actively reviewing its strategic alternatives and opportunities to create additional liquidity and, as announced yesterday, is pursuing merger negotiations with Lonmin plc.

Certain of the statements made in this release are forward looking in nature. Actual results may differ from those projected in forward looking statements. Risk factors relating to Ashanti can be found in its public SEC filings. Ashanti undertakes no obligation to update publicly any forward looking statements whether as a result of new information, future events or otherwise. Any statements should be evaluated in light of these factors.

-- Johnny (JLJTM@BELLSOUTH.NET), October 06, 1999.

@@@@@, I have never owned any gold. I made my money in stock then sold it when I realized I could live very nicely off the profit. Why piddle with gold? I'm set.

I'm sorry it bothers you so much when I post where the market is. You chatter about anything you want, why can't I?

I could care less where the market and gold are in November.

-- (DowGuy@wallstreet.com), October 06, 1999.

<< I could care less where the market and gold are in November >>

Don't be a doofus. You keep poking everybody around here about how great the stock market is and how stupid gold is. Then you claim you don't care.

Troll.

-- David Palm (djpalm64@yahoo.com), October 06, 1999.

This means you can buy DOW Puts even cheaper tomorrow. Better wait until the Dow reaches 10750 on Friday. Buy your Puts on October 11. Dow will begin crashing the middle of next week. I'll eat crow if I'm wrong.

Mike

-- flierdude (Nnospam@spam.spam), October 06, 1999.

Dow Guy,

Oh, this is all just meaningless chatter then? Well I chatter about a lot of things but I usually have a point I try to get across to those involved in the conversation. Just a suggestion... it might be more interesting to others if you had some opinions about the subject of your posts. But hey, it's a free world... if you want to be an opinionless airhead, I guess that's your privelege. Go for it!

-- @ (@@@.@), October 06, 1999.

For the spot price of gold:
http://mrci.com/qpnight.htm
http://www.kitco.com/gold. graph.html

For the spot price of silver:
http://www.kitco.com/sil ver.graph.html

For the spot price of platinum:
http://www.kitco.com/p latinum.graph.html

For U.S. Markets and stock quotes:
http://finance.yahoo.com/?u

For Major World Indices:
http://finance.yahoo.com/m2?u

Sincerely,
Stan Faryna

Got 14 days of preps? If not, get started now. Click here.

Click here and check out the TB2000 preparation forum.

-- Stan Faryna (faryna@groupmail.com), October 06, 1999.

Does anybody actually believe that DowGuy made a "killing" on Microsoft stock last year? He talks like such an amateur. I've never met anyone who made a bunch of money in the stock market, held onto it, and then acted like DowGuy. A total fraud. And a total fool. You know the old saying about a fool and his money? Maybe he just has a basic brain disorder like some of our Pollies (remember ole Poole, CET) and he can't help himself from sticking his foot in his mouth everyday.

-- Gordon (gpconnolly@aol.com), October 06, 1999.

Gordon - LOL!!!

Nice work... I think you pretty much described the whole Dow Guy story in a nutshell (no pun intended) right there!

-- @ (@@@.@), October 06, 1999.

Hey DOW guy - are you still hanging around with all those scrubbing bubbles?

-- a (a@a.a), October 06, 1999.

I hear that soon they'll be collapsing bubbles.

-- a (a@a.a), October 06, 1999.

Ooooooo, I like that. "DOW! Now with New Collapsing Bubbles!"

-- Mac (sneak@lurk.hid), October 06, 1999.

a:

Has anyone checked out www.dowguru.com lately? He's posted three new charts on the first two pages of his 1999 Crash link.

He lists the Sell Zone from October 7-14th when the price is 10,600 - 10,665.

And he states: "Break the 'neckline' and the fat lady sings."

However, he messed up the subsequent page hyperlinks, at least when I tried them. (So maybe I messed up.)

-- Randolph (dinosaur@williams-net.com), October 06, 1999.

You guys go ahead and laugh at me all you want. The stock market is going to go up again tomorrow and I'm going to be the first one here to post it in big capital letters. What that means, I do not have a clue, but now that I know how to read the stock page I'll be sure to let you know everytime it goes up.

-- (DowGuy@wallstreet.com), October 06, 1999.

Gawd, what an ANNOYING piece of crap "DowGuy" is getting to be! Although in all fairness, it is annoying when entire threads get started when the DOW goes down. Or gold goes up. Or gold goes down. Or....

-- King of Spain (madrid@aol.cum), October 07, 1999.

Oh, and what will you do if it goes down?

-- Will (sibola@hotmail.com), October 07, 1999.

Dow Guy- Have you ever heard the phrase "Pissing in the wind"? You better duck now, Mr. Dow.

-- Gia (laureltree7@hotmail.com), October 07, 1999.

Hah hah you're so funny I forgot to laugh.

Will asked;

"Oh, and what will you do if it goes down?"

You should know by now I never mention when it goes down. Didn't you notice that I disappeared for several days when it kept crashing? I only let you know when it goes up because that's just the way I am, I am a very "up" kinda guy.

-- (DowGuy@wallstreet.com), October 07, 1999.

Well that explains it. Now I can see why you always have your head "up" your ass!

-- @ (@@@.@), October 07, 1999.

This guy is the dumbest fucker I have ever seen. I still say he's bullshitting about the stock market. I thought some of the others on here were morons but this fucker takes the cake. What an asshole. I wish we could get rid of all these useless trolls.

-- Gordon (gpconnolly@aol.com), October 07, 1999.

Profanity is the tool of the inarticulate. x

-- x (x@x.mil), October 07, 1999.

Gordon, if we got rid of all the asshole's, we wouldn't have as much fun now would we? BTW, the time is 8:00 PST, the DOW is down 15, NASDAQ UP 16, S&P down .87. Doesn't mean anything though, we have the rest of the day for some real movement.

-- ~~~ (~~~@~~~.com), October 07, 1999.