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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.70-0.3%Dec 5 4:00 PM EST
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To: Enigma who wrote (48761)2/13/2000 1:41:00 PM
From: Eashoa' M'sheekha  Read Replies (1) of 116796
 
>>Start rebutting a few facts and you might have something to add to all of this. But facts are hard to rebut - for example Benes's claim that institutions are dumping Barrick stock - when exactly the opposite is true - as evidenced by the insider report posted by someone here recently and by me and others before. Much more along those lines.<<

Yep! Ken is wrong on that one.Fact is... individual shareholders are dumping to the institutionals as they are more prone to ethics than the Funds that can hide this one among their other holdings,and the buyers of funds are usually less knowledgeable than the retails.The retail investors are switching out for companies that have THEIR best interests in mine,not a bunch of self serving EMPIRE BUILDERS.Thus the distortion in the XAU.

I follow the TSE index which is a much broader cross section of the industry in Canukle-Head land. Unfortunately,those that follow the XAU still consider this as some sort of market indicator.The XAU has been more wrong than right in this volitile market.Also,the mid tier companies have been getting more attention earlier than in the past where a rotation down to the mid to small companies usually follows significant moves.

However.....again unfortunately.....the market still moves with the bigger players,yet historical evaluations of the XAU compared with the gold price is technically incorrect.
The high SINAD ( signal to noise and distortion )level is due to hedging by the big producers,sort of a " bad connection "<g>They still have some repair on their hands.

Anything else?
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