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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: Box-By-The-Riviera™ who wrote (4265)4/6/2004 6:18:42 PM
From: orkrious  Read Replies (1) of 4905
 
Date: Tue Apr 06 2004 16:36
trotsky (@TASR) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
has the poster child of the echo bubble made a blow-off top today? it sure looks that way...a semi-ugly candle on HUGE volume ( 1.5 times the entire issued share capital was traded today ALONE ) , resulting in a valuation reminiscent of the worst internut bubble excesses. it's a successful company, but it's just selling electroshockers - BFD, as they say. their web site promises it's an unsurpassed example of hi-tech innoation, but it strikes me as a truly low-barrier-to-entry business, one that probably already has scores of competitors lining up who also want to feed on the bubble trough.
if any proof was needed that the mania hasn't truly died just yet, this stock is it.
as an aside, the mere fact that the mania remains alive and well all but guarantees the bear's comeback will be of the take-no-prisoners kind. this is a caveat for gold share investors as well.

Date: Tue Apr 06 2004 16:42
trotsky (Todd) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
you are right in the sense that this IS the bullish case for gold - it may be fixing to surprise everyone.
if so, then maybe the weak performance of the gold stocks is just a fake-out to shake off excess bull riders, so to speak.
but the fact remains that this presupposes a change of character in the market - namely that the gold shares aren't a leading indicator anymore. that's a big assumption at this stage.
however, i'm inclined to give it the benefit of the doubt as long as the February lows in XAU/HUI hold...and i'll complain anyway.
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