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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: long-gone who wrote (64942)	3/5/2001 9:00:17 AM
From: Rarebird	Read Replies (3) of 116753

Everybody is bottom fishing except insiders, so what do they know? by Bob Bronson 04 March 2001 11:35 UTC < < < Thread Index > > > Insiders are accelerating their selling, and to the highest level since the bear market began in the average stock on 4/21/98, and since the 10/7/97 start for the BAAC Supercycle bear market, period as I've repeatedly reported before. It cannot be overstated how incredibly bearish the sophisticated versus unsophisticated sentiment situation is today. Without risk of overstatement, the US stock market is more over owned by unsophisticated holders compared to those who now know better, and just want to get out at these well-below-the-high levels, than at any time during more than four decades of US stock market history in various indicators that measure these conditions. A mass selling mood is sweeping over insiders collectively who are in the most informed position to know that something is deeply wrong with their particular company's prospects. This is reflected by the problem of when derivatives expire and the volatility premiums are apparently too high to renew the hedge insurance. For example, institutional investors are deciding that Cisco (our candidate for the bad-boy poster-child of the high-tech excesses of the 1990s), has to sold nowrather than at higher levels when they were protected by their derivative hedges. The crescendoing panic selling that this bear market will suffer will shake Wall Street and Main Street investors to their roots - beyond anything anybody alive today remembers. For this, we have absolutely no doubt. No matter how bearish you have been, you had better consider the implications of what these indicators are saying about the current market's vulnerability to an unprecedented stop-loss selling panic. Bob Bronson Bronson Capital Markets Research csf.colorado.edu

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