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Gold/Mining/Energy : Donner Minerals (DML.V)
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To: Ed Pakstas who wrote (1280)12/3/1997 2:46:00 PM
From: Jimsy  Read Replies (1) of 11676
 
Ed - I think the over-riding factor here is the price of gold. Of what significance is it for anyone to announce that Argentina sold off some gold a year or so ago. This type of bad news stories for gold will likely go on to the end of December That way all tax loss selling is in one sector and the gov't hardly looses any revenue compared to tax loss on the broader market if the DOW was allowed to find its own place.

So everytime gold starts to make a move, we'll get another bad news story. These. resource stocks are under seige until the end of tax loss IMO and not likely any resouce company management will bother to put out any news - may as well save it for Jan 3/98.

Its hard to say where the bottom is because it likely depends on what the insiders know and where they decide to buy back in if at all. I would say that most likely on some of these puppies we have come to the end of the shorts.
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