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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (3731)	4/6/2004 6:35:07 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Heinz on TASR and Gold Date: Tue Apr 06 2004 16:36 trotsky (@TASR) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved has the poster child of the echo bubble made a blow-off top today? it sure looks that way...a semi-ugly candle on HUGE volume ( 1.5 times the entire issued share capital was traded today ALONE ) , resulting in a valuation reminiscent of the worst internut bubble excesses. it's a successful company, but it's just selling electroshockers - BFD, as they say. their web site promises it's an unsurpassed example of hi-tech innoation, but it strikes me as a truly low-barrier-to-entry business, one that probably already has scores of competitors lining up who also want to feed on the bubble trough. if any proof was needed that the mania hasn't truly died just yet, this stock is it. as an aside, the mere fact that the mania remains alive and well all but guarantees the bear's comeback will be of the take-no-prisoners kind. this is a caveat for gold share investors as well. Date: Tue Apr 06 2004 16:42 trotsky (Todd) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved you are right in the sense that this IS the bullish case for gold - it may be fixing to surprise everyone. if so, then maybe the weak performance of the gold stocks is just a fake-out to shake off excess bull riders, so to speak. but the fact remains that this presupposes a change of character in the market - namely that the gold shares aren't a leading indicator anymore. that's a big assumption at this stage. however, i'm inclined to give it the benefit of the doubt as long as the February lows in XAU/HUI hold...and i'll complain anyway.

To: Tommaso who wrote (3731)	4/6/2004 6:39:54 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

From Harmy on Commodities.... ================================== Mish I don't see commodities heading on up the golden road indefinitely. The CEO of WMC said yesterday that nickel prices are unsustainable which, by implication, means they will head down at some stage. WMC Resources <WMR.AX> has issued a warning to investors that current nickel prices are unsustainable, admitting that its Olympic Dam copper-uranium mine may never be 'trouble-free.' Chief executive, Andrew Michelmore, said that WMC is likely to gain 'continuing improvement' on last year's A$246 million profit result, noting that 2004-05 profits would be in line with predictions of approximately A$610 million. Also BHP Billiton made this announcement. By implication it would seem there is no shortage of copper and new mines will be developed in response to world demand. Mining giant, BHP Billiton, announced its approval for the Escondida Sulphide Leach copper project in Chile, predicting the mine would annually produce 180,000 tonnes of copper cathode for more than 25 years. The project is due to begin production in second-half 2006 and will process low-grade sulphide material from both the Escondida and Escondida Norte pits. The worldwide coal shortage will also be alleviated when China slows its economy and also when it develops news mines to enable exports to resume. Regards Harmy

To: Tommaso who wrote (3731)	4/6/2004 6:49:51 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

Ashcroft seeks to ban porn the following post from Hochien on the fool =============================================== baltimoresun.com. Boy. Great. Just great. Now we are going to squirt away millions of dollars and resources that COULD be used to catch terrorists or arrest fraud artists, rapists, murderers....to go after porn. Even soft core porn. I wonder if they will go after Clarence Thomas for HIS porno collection? Hochien =========================================================== How many jobs will thus gain? Since it will be a never ending battle I predict 200,000+ new jobs. Mish