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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (4779)	5/20/2001 8:11:38 PM
From: chowder	Read Replies (2) \| Respond to of 23153

Headlines read: SECOND QUARTER EARNINGS LOOK GRIM Pre-announcements ahead of 1st quarter's record pace By Barbara C. Costanza, CBS.MarketWatch.com Last Update: 3:00 AM ET May 20, 2001 LOS ANGELES (CBS.MW) - The record downpour of corporate earnings warnings for the first quarter will pale in comparison to the second quarter if the rate so far is anything to go by, earnings researcher First Call Corp. said. marketwatch.com I hope everyone is wearing a seat belt. dabum

To: kodiak_bull who wrote (4779)	5/21/2001 11:21:51 AM
From: The Ox	Respond to of 23153

Gold stock prices 'irrational': Lehman --10:59am - By Tomi Kilgore The CBOE Gold Index ($GOX) is moving up 2.3 percent, and is now up 27 percent since the end of April. Among its more active components, Newmont Mining (NEM) is slipping 19 cents to $23.81, Homestake Mining (HM) is tacking on 16 cents to $8.04 and Placer Dome (PDG) is 28 cents better at $12.46. Homestake's stock reaced a 52-week high of $8.15 earlier in the session, while Placer Dome matched its high of $12.48. Those stocks have seen percentage gains of 31, 29 and 23 percent, respectively, in May. Analyst Peter Ward at Lehman Bros. tempered recent enthusiasm by saying gold stock valuations were generally "irrational." Ward feels gold stocks are already pricing in an additional $50 per ounce increase in the price of gold, and feels the risk/return profile is unfavorable. "We recommend reducing position," he told clients in a research note. He pointed out that the gold market has had several "speculative" rallies in the last few year which have all failed. And due to a fifteen-year inventory of gold increasingly being liquidated, Ward says it's hard to believe any "squeeze" is imminent.