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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Richard Mazzarella who wrote (64638)	2/27/2001 12:48:33 PM
From: baystock	Read Replies (2) of 116762

I remember the same thing happened in the 1993 gold stock bull market. The producers moved first and then after a few weeks lag, the explorers started to move. My explanation for this is that funds and big players don't buy the illiquid explorers. They only buy the vastly more liquid producers. If this turns to be a false move they can get out. Whereas the explorers in some cases are like roach motels...you can check in but can't check out. One way to play this is to lighten up on the producers after they've doubled and then roll some of those funds into the quality explorers that haven't moved much yet.

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