Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who wrote (33442)	12/15/2004 1:23:26 PM
From: seventh_son	Read Replies (1) of 39344

Robert Bishop had a good analysis of the current gold stock market: www.kitco.com/ind/GoldReport/dec142004.html It is certainly a tricky market to judge what to do in. I don't fully subscribe to the contrarian idea that everyone turning bearish marks a good entry point for most gold stocks. Rather, with most gold juniors being extremely illiquid, it seems to me that a quick negative shift in sentiment generates a long queue of potential sellers waiting up to months for a reasonable bid to unload some shares on, and a drain on the share prices until either sentiment significantly improves or some get desperate and impatient enough to bomb their stocks down to such ridiculous levels that no one is interested in selling any more. At the same time, if new money finally arrives for gold stocks, things could turn around very quickly.

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