18 replies to this topic

[johngeorge]

The only thing that bothers me is seeing new highs in gold and silver and yet XAU and HUI are failing to hit new highs here. I'm fully in, but this bugs me.

As it should. We maybe looking at a short term top (heaven forbid the dreaded double top ) in the gold price. Traders may want to take profits in their PM stocks.

Edited by johngeorge, 29 March 2006 - 04:14 PM.

[dharma]

hey john, i think things have changed, in the past bull, the shares were the leaders in this bull, the metals are. i think the metals have big sponsorship from fcbs and the shares are getting pulled up. in the scheme of things, many of the shares are @p/es reflecting the tech craze. i am aok w/the metals leading. the shares will get speculative later on. dharma

[greenie]

I am fully in because of Ewave, but do not like the idea of the metals leading indices.

[senorBS]

I am fully in because of Ewave, but do not like the idea of the metals leading indices.

Once again, both charts are bullish, Senor thinks it matters little. Perhaps ETF's have changed the game.

Senor

[greenie]

I am fully in because of Ewave, but do not like the idea of the metals leading indices.

Once again, both charts are bullish, Senor thinks it matters little. Perhaps ETF's have changed the game.

Senor

Si Senor, but we need to have some wall of worry

[senorBS]

I am fully in because of Ewave, but do not like the idea of the metals leading indices.

Once again, both charts are bullish, Senor thinks it matters little. Perhaps ETF's have changed the game.

Senor

Si Senor, but we need to have some wall of worry

Bueno, keep supplying it!

NO BS

Senor

[Jnavin]

hey john, i think things have changed, in the past bull, the shares were the leaders in this bull, the metals are. i think the metals have big sponsorship from fcbs and the shares are getting pulled up. in the scheme of things, many of the shares are @p/es reflecting the tech craze. i am aok w/the metals leading. the shares will get speculative later on. dharma

Good thought process, dharma. Thanks, appreciate your take here.

[johngeorge]

I am fully in because of Ewave, but do not like the idea of the metals leading indices.

Once again, both charts are bullish, Senor thinks it matters little. Perhaps ETF's have changed the game.

Senor

Si Senor, but we need to have some wall of worry

Bueno, keep supplying it!

NO BS

Senor

I helped, I thought, add a couple bricks in that wall with my post above but cant fool the smart money here.

[no_mind]

I read the following from here.

"As a result, the market climbs a classic "wall of worry" as speculators, nervous about gold prices falling, are reluctant to bid mining shares too high."

"This current market in gold reminds me of the course taken by oil and oil shares during the three year period between June of 2001 and June of 2004. During that time, despite oil prices having doubled, the Philadelphia Oil Services Index (OSX) barely budged. The high degree of skepticism that existed regarding the legitimacy of oil's new bull market was able to keep share prices in check. (In fact, the wide-spread belief that oil prices were about to collapse allowed the Government and Wall Street to convince a gullible public to exclude energy prices from the CPI.)"

Best,
Tom

Edited by no_mind, 30 March 2006 - 03:27 AM.