BTW....
Rambus closed at $100 today an all-time high and a Price/Earnings (ttm) 351.03 hmmm??
For the other news..
In New York precious metals ended lower Friday, without a thought
given to the bombing of Iraq and the beginning of the debate over
the impeachment of President Clinton in the U.S. House ofRepresentatives.
Gold opened slightly strong but gave into the dealer selling
throughout the session, finding weakness from commodity prices
virtually across the board. Gold is currently hovering at its
lowest level since September 9.
"Gold appears to be losing its clout as a hedge against political
insecurity," said James Steel, commodity analyst with Refco Inc.
"Gold managed to shrug off the air strikes in Iraq, the
impeachment debate in Washington, and the weaker dollar, all of
which should have been bullish for gold. "Commodities as an asset
class just seem to be pretty unpopular," he added.
The CRB Index edged fractionally lower, driven by another decline
in crude oil prices, which also seem to be shrugging off the bombing in Iraq.
>From a technical standpoint, Friday's move breaks the downside
wide open, making key support the life-of-contract low of $277.50an ounce.
"If the market can't find support in the world turmoil," I'm not
very hopeful," one trader quipped.
regards
Don |
