Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: LLCF who wrote (2015)	5/30/2003 2:18:37 PM
From: ild	Read Replies (2) of 4912

Date: Fri May 30 2003 12:22 trotsky (frustrated) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved looking for bullish statements? here is one: we're going to rally big. the current consensus calls for a correction ( no matter where you look as it were ) , so it seems increasingly unlikely that we're going to get one. and if we do, it's probably going to be shallow. in the course of the recent yo-yoing the tape has improved markedly imo. a dollar rally if it happens may not be bad for the gold miners...most would in fact see improving margins ceteris paribus. note also that consolidation is once again speeding up...always a positive. Date: Fri May 30 2003 12:59 trotsky (kapex, 11:17) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved "No doubt the mining shares have been underperforming. I think this is more due to the fact that Gold and the shares were squashed back in May of last year." actually, wrong guess. the gold shares are NOT underperforming vs. a gold price measured against a basket of currencies, not just the USD ( the dollar PoG is in fact far less important than it seems to dollar-centric observers ) . your assertion that people 'got burned' by buying the May top conveniently leaves out the fact that there was a seller for every buyer. now, did those sellers get burned? obviously not...so i will make a counter-argument here: lots of traders who sold at that top booked a healthy profit...and will be looking to play the sector once again. trotsky (AU_NB 12:42) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved well, i saw that interview on CNBC Europe with a gold bull. guess what he said? "investors should keep 5% of their assets in gold due to ( lists fundamental reasons for higher gold prices ) , but near term, we're expecting a correction to 340". and that's the current consensus, namely that while we're in a bull market, a correction is now inevitable. i'm not ruling it out either...i'm just saying it will probably be shallow and short-lived if it occurs.

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