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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (231)	10/20/1999 10:53:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 4409

You didn't know then and you don't know now to what extent Giant Mascot output actually was purchased by the US for casings. You only associate advancing price with that news. It may be the case that copper supplies were drawn down from direct suppliers of the US so that secondary suppliers providing for the common demand were in a dearth position. The degree of dearth is so infinitesimal and Giant was so small of a player that to claim Giant moved because a ramp up of Us war effort demand is ridiculous. Your only argument is that psychology was ripe. The shell casings argument is a standard rationalization among media types to explain sudden price movement. Almost always the movement is due to panic short covering based on a wrong assessment of imperceptibly changing fundamentals and this media item gets sent around until believers feel comfortable that things have been explained. That's a helluva way to reach a conclusion. I seem to recall back then that copper was in big trouble because of excess supply from war buildup, not because of war buildup. The buildup started in in '65 and just before the middle of '66 when the country started into a mild recession, some metals stocks advanced for reasons associated with end-of-cycle forces similar to what is happening now. In any event the demand for copper and the stocks were dogs throughout '68 and '69. The metal stocks are the one group where assessing fundamentals brings about worse results than chart reading.