MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.72

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Jan 16 4:00 PM EST

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To: pater tenebrarum who wrote (27473)	9/27/1999 4:39:00 PM
From: Fun-da-Mental#1	Read Replies (1) of 99985

Heinz, not to be contrary, but I don't think that makes sense. If that was the main factor driving gold stocks then some stocks should be moving up a lot now while others stand still. Instead what I see is most of the big gold miners moving up 20-30%. For example most of Barrick's production is pre-sold for years at $300/oz or more, so a move up to $270 will not impact their bottom line, yet their stock went up about 20% today. I think the explanation is a combination of (a) safe-haven buying, (b) the perception of a turnaround in the long-term trend for gold prices, and (c) jumping on the sector-rotation bandwagon. Fun-da-Mental

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