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Gold/Mining/Energy : CDN. MOMO PUPPIES -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (25709)	2/12/2000 10:24:00 PM
From: brian krause	Read Replies (1) \| Respond to of 36688

Koan is this a typo or could the banks really be hooked on this deal. I do not wish anyone to go under but I know I have been hit realy hard do to bank sales and shorting in the gold market. If Ashanti goes under, analysts said, its bank creditors will be forced to buy back some 10 million ounces of gold bullion that Ashanti borrowed and subsequently sold. Taken from biz.yahoo.com The world total annual production is only 83 million oz Despite gold prices that averaged $37 per ounce less than in 1997, world gold mine production grew 3 percent in 1998 to reach 82 million ounces. The new forecast for 2002, at 83 million ounces, shows 1 percent growth from 1998. However, those projections were made when gold was at $285 per ounce. It is likely that if the current $255 price had been taken into consideration some forecasts would have been lower. Unless prices recover, instead of growing 1 percent, it is more likely that production will decline 1.5 percent to 2 percent per year for the next few years. Taken from goldinstitute.org So we have banks short 10 million oz simply due to one deal with Ashanti. There are huge amounts of gold sold short by others. Add in producers cutting back on the amount they hedge. Some producers are buying back their shorts. The Asian market is hot and they are large consumers. Am I missing something here or does this have the potential to be huge. Cheers bk

To: koan who wrote (25709)	2/13/2000 2:01:00 AM
From: koan	Read Replies (2) \| Respond to of 36688

Stating the obvious: CDNX - replacing Las Vegas - lol. I just spent Saturday reading many of the stock threads and realized this is just like the shoeshine boy (no offense to shoe shine persons <g>) giving advice on stock picks. I think the trick to this momo stuff is to just figure what is the next stock the shoe shine people <lol> will buy. Just forget everything except the gamble. Is this a good gambling stock. In fact are they not taking their money out of wall street and betting on CDNX. DOW down 250, Nas down 90, t down 176, something like that and CDNX up 60. Well if anyone knows how to gamble its the momo puppies lol.