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: Wade who wrote (1367)	3/22/2004 9:54:17 PM
From: Wade	Read Replies (1) of 48092

Let's take a look at the POG/SPX chart again. It is clearly indicated a bullish new direction of POG vs. the stock market. The hidden message is that cash is finding its way to the PM sector. stockcharts.com[w,a]waclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G I view this is a very positive movement when both of POG and SPX moving in the opposite directions. It was very clear that PM stocks sold into the rally due to the over all pull back of the stock market. Personally, I was amazed that many old gold bugs were shaken out by this scare. This is the perfect timing for the new buyers to step in and take over the situation. I see the melt down of the stock market is purely related to the poor economical growth and high inflation (check your CRB index, 285+). I don't expect PM stocks to fall with the market because there is reasons, except fear and foolishness. Furthermore, many gold stock holders are expecting the pull back to form the inverted right shoulder. This is the bet which I won't make at this point. Because it is very possible that POG takes off from here when the mid-east crisis worsens as we have observed lately. It is also clear that the PM stocks with real earnings get respects in this recovery. I only plan to put money on the producers and those juniors ready to produce. Even with this critical selection process, I am still hurt badly when CLG announced delaying production plan due to much higer than expected costs for build the mine. Evidently, the cost of building a profitable production mine is a very critical factor to determine the value of a junior mine. I am very amazed that a web letter evaluate junior silver mines purely based on sketchy reserve estimation to compare with very well establish production mines, such as CDE and PAAS, without establishing any feasibility and cost estimation. Most of his followers will learn two things from him: 1. After losing large amount of money, they learned not to trust this kind of hypes and this guy any longer. 2. After profiting from these hypes, they learned that this is an easy way to make lots of money. So, they decide that they can do the same hype as well. I don't like either one of these cases. Good luck to all. Wade

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