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Strategies & Market Trends : Natural Resource Stocks

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To: jimsioi who wrote (17442)	11/10/2004 9:45:45 PM
From: The Vet	Read Replies (2) of 108857

the ducks didn't quack... Yep! I was too early as usual, and being too early is just as wrong as too late! The market amazes me on how it can put everything on hold waiting for the FED to say what everyone knew they were going to say! However as the FED puts up interest rates bond prices have to fall. The CB of all the countries holding US securities as reserves are now seeing the double whammy of loss in value of those securities and additional capital loss on the exchange rate. This won't strengthen the USD, despite conventional wisdom on interest rates. On GRZ, it has stalled just below the new issue price of $5.60 CAD ($4.65 US). The Canadian brokers who did the PP have sold almost the entire issue short into the market and are now selling the attached warrants ( strike $6.50 CAD in 2 years)at up to $1.35 CAD each) However the volume has been excellent especially on the TSE and the buyers haven't needed to chase stock. They will soon be finished unloading and the few extra short sellers who piled on when the deal was announced will have to cover and provide the fuel to kick start the stock again once the 4 million or so shares are distributed. I am still a buyer on dips and took all that was offered a week or so ago at $4.25. Since then there has been virtually no volume offered below $4.50 US.

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