Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: bullbud who wrote (84917)	9/11/2008 7:37:41 AM
From: ItsAllCyclical	1 Recommendation Read Replies (2) of 116555

>> The miners are at levels = to 300 gold. Sorry, not natural. It may fool you. It sure as hell ain't foolin' me. << 300 gold? Sorry anyone in this sector for the past 9 years should know better. Gold stocks are not priced for 300 gold. 600-700 given the rise in input prices is probably more accurate. Look at oil stock valuations. These are cyclical companies. Why should gold stocks get a premium? They may on the way up since their overall market cap size is small, but the same can happen on the way down in reverse. I've also been in the sector for 9 years. Do I think there's manipulation? Sure, but it's usually short term in nature (1-2 days) and not the primary cause. If you look at gold stocks in isolation and are sitting on big loses it's easy to cry manipulation. If you step back and look at things rationally it's really not that hard to see the causes. I've been over these already so I'm not going to rehash it.

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