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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (21889)	9/28/1999 9:15:00 PM
From: 1st.mate	Respond to of 62347

I have been reading what the world thinks of gold, this is typical!! ."The gold market is rocketing once again, lease rates are through the roof, shorts have run out of time and the bulls control the market," said a daily report from Dave Meger, senior metals analyst at Alaron.com. "Gold has real potential to move to $350 (an ounce) with no effort." Speculators who had been leasing gold heavily, when the price of the metal hit 20-year lows, are now attempting to "cover and reverse," causing a huge amount of buying, according to Meger. Seasonal demand time for precious metals used in the manufacture of jewelry for the holidays begins early in the fourth quarter, adding to the momentum.

To: 1st.mate who wrote (21889)	9/28/1999 10:23:00 PM
From: the Chief	Read Replies (2) \| Respond to of 62347

My take on the matter is that most think this ralley is not going to sustain itself and to buy over certain levels caused the market sentiment change and the shorts took over....I presently hold no gold stocks and sold all before the close!!! I agree, i sold my "K" today Given the low cost/once that most of the majors are now working on, I feel that we still have more room to move... I disagree because the low cost/ to price of POG ratio is still less than the same ratio when POG was $400 and cost was $226.00. The profit margin was $174.00 per ounce at $400 gold which translated into $42.50 and a bias to a $500.00 gold level low cost has resulted in the approach to $156.00 cash cost and a $300 gold price which equates to a profit of $144.00. Even a rush to $330 gold will result in the same profits associated with the previous ratio....with no belief that gold will climb higher, majors will have difficulty reaching there past 4 year highs. Because the perception that $400 gold is in the offing will not be there. So in the shortterm I believe people will err on the side of caution and take there present profits off the table....any further rally will dullen that possibility and may propel gold to $330, but I expect that it is not sustainable in the longer term. We shall see.....the nice thing about this is.....we are all just guessing!!<ggg> the Chief