AI
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| Alias Born | 06/16/2004 |
Monday, October 24, 2005 5:25:11 AM
***NEM, going to make an AGGRESSIVE CALL here on NEM, the bellwether for $GOLD stocks, I say earnings are going to dissapoint and as a result this will be forseen by the markets, the Newmont Mining's conference call for earnings is expected to begin at 4PM or market close on Wednesday... I really believe aggressive traders are going to position themselves short or bearish on this issue for Monday on any spikes to the upside, and the bellwether should allow for a move on the HUI to underneath 200 if the market reacts bearishly which I am expecting to be confirmed via a break of the 50 day SMA this week and as early as tomorrow in which I expect "smart money" to be short...
No, this is not a bearish call on the price of PHYSICAL $GOLD... just a short-term bearish call on the broader market, most specifically $GOLD issues and bloated NEM which trades at a hefty P/E ratio and earnings will dissapoint big-time which in turn will raise the P/E ratio>>>
Minimal target this week of $40.40sh if the aggressive call proves correct, with a potential target of a gap fill to $39.58...
Longer-term, a gap does exist between $33.50-$34.00 between July 22nd and July 23rd, 2003, the price of $GOLD back then was $360sh, but oil was $30sh, a multiple of 12 to 1. As of Friday's close, the contract of $GOLD was $466.90 vs. oil at $60.63... a multiple of only 7.7!!! Thus EARNINGS ARE GOING TO DISSAPOINT!!!>>>
*In other words, while oil wound up doubling from the point of NEM's significant gap up that is still open, $GOLD only managed to gain nearly 30%!... not even one-third (1/3) the gain of OIL!!!>>>
EARNINGS WILL DISSAPOINT UNTIL THESE ITEMS ARE PROPORTIONATELY CORRECT!!!>>>
*As a big advocate of a $GOLD standard currency, I am SHORT-TERM BEARISH NEM until proven otherwise & into earnings & through them!
No, this is not a bearish call on the price of PHYSICAL $GOLD... just a short-term bearish call on the broader market, most specifically $GOLD issues and bloated NEM which trades at a hefty P/E ratio and earnings will dissapoint big-time which in turn will raise the P/E ratio>>>
Minimal target this week of $40.40sh if the aggressive call proves correct, with a potential target of a gap fill to $39.58...
Longer-term, a gap does exist between $33.50-$34.00 between July 22nd and July 23rd, 2003, the price of $GOLD back then was $360sh, but oil was $30sh, a multiple of 12 to 1. As of Friday's close, the contract of $GOLD was $466.90 vs. oil at $60.63... a multiple of only 7.7!!! Thus EARNINGS ARE GOING TO DISSAPOINT!!!>>>
*In other words, while oil wound up doubling from the point of NEM's significant gap up that is still open, $GOLD only managed to gain nearly 30%!... not even one-third (1/3) the gain of OIL!!!>>>
EARNINGS WILL DISSAPOINT UNTIL THESE ITEMS ARE PROPORTIONATELY CORRECT!!!>>>
*As a big advocate of a $GOLD standard currency, I am SHORT-TERM BEARISH NEM until proven otherwise & into earnings & through them!
HI-HO SILVER !!!
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