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Politics : Welcome to Slider's Dugout

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To: J.B.C. who wrote (8227)	3/5/2008 2:37:56 AM
From: Threshold	Read Replies (1) of 50666

<Did the bubble in PM stocks break today?> What PM stock bubble? The $HUI:$GOLD ratio is lower now than at the beginning of 2006, and the ratio of the Canadian Venture exchange, a good proxy for the junior miners, to the price of gold is near its lows for the past 3 years. Look at $CDNX:$GOLD on stockcharts.com. That looks closer to a bottom than a top. There is no bubble in gold stocks. I think you'll need to see the junior explorers and producers run up to ridiculous valuations before one can say we have a PM stock bubble. No, there are very few bubble type stocks in the gold arena if any, and you'd need to look at the trailing and forward PE's of the likes of ABX, AUY, GG and KGC to see if they are actually in bubble mode. When the junior uranium explorers, with nothing but undrilled moose pasture, ran up to mkt caps of several hundred million dollars last year, that was a bubble, and it is likely to reflate with far fewer, high quality members in the pack.

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