Echo Bay Mines, anyone (anyone) ((anyone))? Message Board

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Gold/Mining/Energy : Echo Bay Mines, anyone (anyone) ((anyone))?

ECO 33.30

-0.8%

12:00 AM EST

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To: Nancy W who wrote (167)	11/7/1997 10:48:00 AM
From: Alex Burns	Read Replies (1) of 300

When the price of a stock goes down 25-30% in one week, and that stock continues to make new lows almost every day, it tends to cause a little panic selling. I hope we can look back on this and call it capulation, because that would be a very dynamic reversal pattern. Lots of people are giving up. At some point, new buyers will start coming in. Lower volume might also be a possible indicator for the price to stop going down. Just when you'd expect the price of gold to go up (today's unemployment report indicates inflationary pressure in the economy, specifically on wages), but gold prices are testing support levels as I write this. The "flight to quality" via bonds instead of gold continues... Alex

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