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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: Sean who wrote (188)5/22/1999 1:51:00 PM
From: ahhaha  Read Replies (2) of 587
 
I believe Batu will be a great contributor to the top line because the cost leverage will be multiplied as the price of commodity copper rises. For various reasons mostly associated with shut-ins and depletions of world copper mines, I believe copper price will rise to $1.20/lb and Batu will enable NEM to earn $3.00/shr in 2001.

The every trade money flow continues to be outstanding in this stock regardless of appearance of price weakness. When you have market orders to sell and no market orders to buy with thin bookings below, the specialist has to buy. The supply has forced the specialist to drop the price, but the sensitivity on the upside, the price inelasticity with respect to marginal demand, is extraordinary, perhaps the greatest I've ever measured.

NEM isn't unique in this action. Many of the junior golds also exhibit similar structures. The tech stocks in contrast look exactly the opposite. In fact, most stocks look absolutely horrendous. The big boys want out and they can't easily get out even in the major caps.

They say a bull market has a copper roof, so it would seem that the bull market isn't over though the bear market is about to intervene. It wouldn't be surprising if the non-resource industrials dropped and then rallied inducing the public to announce the bottom and pile in only to see the rally gradually fade over months. During that period you get the move in metals.
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