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 : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (101191)	5/10/2001 8:43:11 AM
From: UnBelievable	Read Replies (2) \| Respond to of 436258

Lower Jobless Claims - Good or Bad For The Market You may recall that last week we were told that increased jobless claims were good for the market. For some reason I think that we are going to find out the fewer jobless claims are too <gg>. US Jobless Claims -41K To 384K In May 5 Wk; Survey -3K *DJ US Apr 28 Week Continuing Claims +56K to 2,727,000 DJ US Jobless Claims -2: 4-Wk Moving Average Dn To 402,500 WASHINGTON (Dow Jones)--The number of U.S. workers filing first-time applications for unemployment benefits fell back last week from a five-year high, but remained at a high overall level as the economic slowdown continued to put pressure on the labor market. The Labor Department said Thursday that initial jobless claims fell 41,000 to 384,000 in the week that ended May 5. The four-week moving average, which smoothes out weekly fluctuations, fell 3,000 to 402,500, just below its eight-and-a-half-year high of 404,500 in the April 28 week. Initial jobless claims for that week were revised to 425,000 from an initially reported 421,000. The weekly increase surprised Wall Street, which had been expecting a decline of 3,000. The number could provide some relief to investors, who have been afraid the U.S. economy will fall into recession. Financial markets were caught off guard by a dramatic drop in payrolls in April. Investors widely expect the Federal Reserve to cut its key short-term rate when it meets next week, as part of its efforts to prop up economic growth. The Fed has cut the federal funds rate four times this year, trimming it to a seven-year low of 4.5%. The cuts, however, have done little to boost the confidence of consumers and businesses in the economic outlook. The Labor Department said North Carolina saw the biggest increase in unemployment benefit claims during the April 28 week, with a rise of 9,020 jobs. It attributed the increase to layoffs in the textile, furniture, transportation and computer equipment industries. Michigan had the second highest increase in benefit claims, with a 5,040 rise attributed to auto industry layoffs. New York registered the biggest fall in new claims with a 10,536 drop attributed to fewer layoffs in the educational services industry. In New York, school workers are allowed to claim benefits during spring break. Massachusetts saw a 4,608 decline in new claims during the April 28 week. It did not provide an explanation for the drop. Continuing claims for the week of April 21 rose by 56,000 to 2,727,000. The seasonally adjusted unemployment rate for workers with unemployment insurance held steady at 2.1%, the highest level in four years.

To: Lucretius who wrote (101191)	5/10/2001 10:03:54 AM
From: yard_man	Respond to of 436258

good

To: Lucretius who wrote (101191)	5/10/2001 1:19:52 PM
From: LLCF	Read Replies (3) \| Respond to of 436258

<goldman says "sell your goldshares" HO HO > CSFB [my old firm] too! What a laugh, look at this resoning: <In our opinion, very little has changed with respect to the short term supply and demand fundamentals and we believe that the currently rally could end as fast as it began.> <We continue to recommend an Under Weight position in the sector and encourage investors to take advantage of current market opportunities to reduce exposure to the sector.> Oh, sell from my already underweight portfolio??? LOL <Our primary valuation measure for this sector is Price/DCF (or net asset value, intrinsic value, rock-in-the-box value etc.) which is a dynamic measure of life-of-mine economics discounted to the present. However, changes in this multiple more often relate to changes in analyst assumptions than investor expectations, and therefore historical comparisons are difficult. However, other measures that address underlying value on a more simplistic basis, can be used to get some idea of valuation levels and investor expectations. Adjusted market capitalization (enterprise value) per reserve ounce shows what an investor is paying for a gold ounce in the ground. The following chart highlights how this has varied over time, with the range being $66 to $ 206, and the current average being $94. Although the current average is down some $112 from its peak in early 1996, gold is down by $146 per ounce over the same period.> Nice of them to assure the continued rally. Jeez, does ANYONE own goldshares? Pretty funny, all this pissing around over a $4 in gold! DAK