Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Benkea who wrote (27694)	9/28/1999 4:59:00 PM
From: Jerry Olson	Respond to of 99985

GOLD??? bah humbug!!!!! futures look good here....rock on...

To: Benkea who wrote (27694)	9/28/1999 5:10:00 PM
From: Rick Hay	Respond to of 99985

Benkea, Following Canadian gold stocks today most solid producers have hit or are near their 52 week highs. The fact that gold SHATTERED the $290 barrier and broke the $300 barrier without even stopping indicates a huge bull upswing on the rise. I believe people haven't accepted that gold is going up so stock price resistance is very high. I think over night trading will tell all. We could wake up with gold at $350 if the momementum seen today holds. The shocking thing I find is the differentials in profit for such companies as Placer Dome and Barrick are huge. Placer gets about 1000 oz / day production at a cost of $80 / oz to produce, one of the most efficient in the industry, yet today it would not push through dispite record trading of over 16 MM shares on Toronto alone. If gold continues to rise I expect a huge price surge that will shatter the resistance and send gold stocks on their next leg up. The huge jump today was unbearable to watch while the stocks wained in disbelief. One aspect of the gold stock action that I don't understand is that if follows the S&P somewhat even though the futures price steadily rose. Very strange. Regards, Rick