The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (21787)	11/15/2004 11:09:06 AM
From: ild	Read Replies (3) of 110194

truecontrarian.com INSIDE THE GOLD MARKET: The heaviest insider selling in gold mining shares since May 2002 (just before HUI plunged more than 40% from June 4, 2002 at 154.99 to July 26, 2002 at 92.82) was seen in the past week. Newmont Mining (NEM) saw substantial cumulative insider selling, including a sale of 100,000 shares by its CEO, while Freeport McMoran Copper and Gold (FCX), Hecla Mining (HL), and Vista Gold (VGZ) also saw substantial insider unloading. There was new issuance of shares by Placer Dome (PDG), Coeur D' Alene Mines (CDE), Eldorado Gold (EGO) and Central Fund of Canada (CEF), while Barrick Gold (ABX) and Apex Silver Mines (SIL) issued new debt. Only Golden Star (GSS) saw insider buying, the latter of which has a very different chart pattern from the others. With gold mining shares, there is a very strong historic correlation between insider activity and the behavior of these shares over the subsequent four months.

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