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To: Pacing The Cage who wrote (192991)	9/20/2002 12:38:28 PM
From: Horgad	Respond to of 436258

Take your pick: 1-A. The people buying the miners don't think the latest POG move will stick (and they are usually right?). 1-B. The people buying the miners are waiting for a convincing break of 325. 2. General stock market woes are suppressing the miners. 3. The miners got ahead of the gold price again and they are in the middle of a correction that is being muted by a climbing POG.

To: Pacing The Cage who wrote (192991)	9/20/2002 12:48:22 PM
From: Tom Smith	Respond to of 436258

the game earlier in the year was to run up the POG and thus the miners then sell and short....lather, rinse, repeat. Works early in a bull market until it doesn't, that is, until the fundamentals make it painful to be on the wrong side of the trade. Most probably feel the miners are ripe for some downside ripping or they're selling to cover losses from other investments. Suspect one day soon they'll try to drop the price of gold and it will only go up, and up and up. Overnight, it will cost twice as much to get back into the miners....jmo and it does appear to be a gold bull market, but then my trading horizon may be longer than most....