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.

Gold/Mining/Energy : Position Trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (2232)	2/15/2001 8:57:29 PM
From: Greg from Edmonton	Read Replies (1) \| Respond to of 2259

Ya all indications point to NT experiencing some major pain tomorrow, most certainly new 52-wk lows. I'm glad to have taken a decent profit earlier today (phew!). I might listen to NT's after-hours announcement later this evening. Gold, hmm. heading for new 20 plus year lows. Usually when the gold stocks hang in with gold under pressure it means we may see a rally shortly after a flush. I will never forget around September 1998 when gold had a flush and then an explosive upside. The XAU almost doubled, and I believe it could potentially happen again soon. 31-Aug-98 XAU low 48.67 8-Oct-98 XAU high 87.53 See the following chart, around end of 98Q3. finance.yahoo.com^XAU&d=5y As I recall it was triggered when PDG announced they were going to reduce their hedging program, but the triggering event will be different next time. I'm considering taking long term position in several producers like ECO, K, IMG, GLG. These companies wont go under even with a few years of 200 gold and buying them is like buying an option on gold. I followed K closer until about a year ago, I owned it at least once that I remember. Right now it's not on my list. I like IMG's fundamentals, I had a stink bid in on it until very recently in case of an unexpected downdraft but didn't get filled. $2.11 would've been a nice level to quietly accumulate some IMG. The only real downside though, is the lack of volume. I like GLR.a for its potential also, but again... no volume. Both have threads here at SI (pretty quiet though). One thing's for sure, tomorrow thru Tuesday will be a very interesting time in the markets. Friday is options expiry, NT is set to have a bad day, and today a new low was set on the spot price of gold. And above all that, the US markets are closed on Monday. One thing I find particularly curious is that while the POG ground to a new low earlier today, the Canadian gold producers (and the Toronto Precious Metals index) had a very interesting run towards the close, but seemed to be reflected on the TSE traded stocks only. finance.yahoo.com^xau+^hui+^tgl+pdg.to+pdg+abx.to+abx&d=5d EDIT: GOU has been seeing some interesting activity as well, rumours of a takeover?