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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Fun-da-Mental#1 who wrote (27483)	9/27/1999 5:03:00 PM
From: pater tenebrarum	Respond to of 99985

Fun, i have no problem with the reasons you cite...and i do think that ABX is NOT the stock you want to own if a gold bull market were to start here (mind you, we have seen false starts in the past, so we'll have to wait and see how this develops). ABX is the gold stock you want to own when the PoG is going down or remains flat, since they are both a low-cost producer and have the biggest hedge book in the industry, which naturally limits the upside potential to their earnings. much better to go with the marginal producers of South Africa if the PoG continues up. ultimately they will profit much more... regards, hb