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Gold/Mining/Energy : Greenstone (GRERF) -- Ignore unavailable to you. Want to Upgrade?

To: Daytek77 who wrote (58)	7/28/1998 11:13:00 PM
From: abdias	Read Replies (1) \| Respond to of 138

I would not be looking for a rally in gold any time to soon. With weak demand from Asia, and the newly formed European Central Bank looking to hold only 10-15% of reserves in gold, a move above $320 is still a long way from happening, and could still see $260 first. Patience is the key here. Gold (like most commodities) is very cyclical in nature. Some sort of price recovery in 6-12 months is certainly likely, but as I say, still too many factors pointing to more short term weakness first. I have followed many of the comments made on this thread, as I have thought about this stock as a possible investment. Mr Metals comments made me wary initially, but whether they are fact or not, there is no denying that something is amiss here - Greenstone continues to lose ground at a greater rate than other gold producers. The price action suggests to me that you will still get cheaper levels to buy this stock - maybe the $3.20 / $3.50 range in coming days. If equity markets continue to slide as they have over the past week, the gold stocks will continue to tread water. I still like the company but think the price action remains ugly - will stay on the sidelines and wait for signs of a turnaround before maybe buying.......