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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: excardog who wrote (20147)3/12/2003 2:17:29 PM
From: chowder  Read Replies (1) of 206093
 
Amen?

Double Amen??

har, har, har ......

Excuse me fellas, but in what direction are prices headed?

The only thing that matters is the relationship between supply and demand. The relationship between buyers and sellers.

Sometimes fundamentals drive prices higher, sometimes technicals. Sometimes it's news, human emotion or the weather.

The only thing any of these catalysts have in common is their relationship between supply and demand. The more shares being offered for sale, the lower prices go. The more shares that are in demand, the higher prices go.

Fundamentals don't matter if the trend is down. Look at the prices.

Don't believe it? What has happened to the XNG since we started seeing 200+ draws in a week? We haven't seen the XNG high a recent high since these terrific draws started. Coldest winter in how long? What effect has it had on prices? Fundamentals up the yang-yang and where have prices headed?

Everyone who wanted to buy the OSX and XNG did, a couple of months ago. We ran out of buyers and any fundamental reason to take them to new highs. Since demand for shares is weak, supply is taking prices down.

What matters is supply and demand. When we focus on supply and demand, it doesn't matter what drives prices higher, just being on the right side of the move is all that's important to me.

dabum
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