Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Yogizuna who wrote (1290)	2/1/2004 3:04:49 AM
From: Wade	Read Replies (1) of 48092

<The combined global capitalization of the gold/silver stocks are US$130B at $410 POG.> This number tells us that the global gold stock community is about the size of KO, or 1/2 of PFE or WMT. Within this small circle we see the highest concentration of newsletters, advisors and promoters than any stocks in history. This is the reason why we see very different views of the POG movement. Gold and gold stock markets can be easily spooked by very few individuals' opinions. The entry and exit doors of these stocks are too narrow for massive amount of money movements, which only create panic selling. Very few momentum traders can affect the over all market directions, which is clearly demonstrated by Fed using very small amount of cash and treasuries to control the direction of the bond market. Even by implying rate adjustment, as we saw in the last few days. So many people sold their gold positions to wait for POG to drop to the support or trend line. They never thought about the support may not be there if every one else is waiting for the next "idiot" to catch the falling sword. These are self-defeating bearish views. As I said before, if every one is waiting for POG fall to $385, we will see POG fall through $375 easily. In any rate, I have done my best to support gold stocks. <VBG> I expect to see very violent rally when POG find foothold because the shorts have to cover their positions. The recovery of the gold market is very near. You will believe what I said if you think about our president's and AG's recent speeches which are directionless. Our country is in ruin. I have no other place to go and nothing to count on, except to hold onto my gold and gold stocks. Take care and good "investing". Wade

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