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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (41788)	12/19/2002 6:26:25 PM
From: patron_anejo_por_favor	Respond to of 52237

JOAT...SA miners are probably doing well IN SPITE of the strong Rand. Remember, they pay their expenses in Rand, and they receive their revenues (by-and-large) in ClownBucks...ERRR, DOLLARS and Euros. So a weak Rand is better for them profit-wise, all other things being equal. OTOH, if the dollar is crashing generally against everything, the price of gold in dollars rises, which is also good for SA miners. It's a mixed bag, but they're probably doing well simply because they're (almost defiantly) unhedged and in fact very leveraged to the POG. Agree the charts on the HUI and the XAU look toppy and in need of basing here.