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.

Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: James W. Riley who wrote (66371)	10/5/1999 12:15:00 AM
From: Lucretius	Respond to of 86076

give it time, it got ahead of itself last yr. when the miners get silly to the upside compared w/ the POG, you'll know the rally is nearing its peak.

To: James W. Riley who wrote (66371)	10/5/1999 6:39:00 AM
From: Oblomov	Respond to of 86076

ASL in particular is down because they had to restructure their hedge book. The perception is that their balance sheet was damaged by the sudden rise in gold. Also, a lot of hedge funds had hedged their short gold futures positions with long positions in the mining stocks. As they unwind their positions, they are selling the stocks. As Luc mentions, the mining stocks will probably catch up with the POG rise, and eventually become overvalued. AA