Ed, my bias reflects reality. Fortunately (for me), I jumped out as soon as I noticed divergence between the "then" glowing FA and the poor TA (well above $2 and more than two years ago). I have yet to see the onion peeling process completion, and until that happens, my bias will remain negative from a fundamental point of view. I see the recent rally as nothing more than a touting supported rally (also known in some circles as P&D). This include, I understand an "i-net" campaign of whispers about an "imminent" great surprise, but frankly, I would be more happy with the company getting a simple water usage permit (as one of many indications of imminent production"), than this continuous string of releases indicating oodles of goodies in the ore, extracted every time by another wand of magic, whispers that production is "imminent" or already in progress, etc.
As for George and Les, I really do not know them and their track records, nor their ability to differentiate between hype and fact. I am just sorry for the new harvest of, what in my opinion will be, bag holders created in this last rally.
Zeev |
