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Red Underwear, Contd.

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Reading Deil Take the Hindmost, apt quote regarding South Sea: Speculators did not buy bubble company shares as long term investments; they bought them with the intention of selling them on to greater fools. In a very short time, they were to discover that there were no greater fools in the market than themselves.

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Yosh, on a daily chart, SLGFL is significantly less overbought that most other gold stocks - mostly, because it already had a correction. Look at Stochastic, Bollinger bands and 14-day CCI, Williams %R and StochRSI. None of them is extremely overbought yet.

 

Of the others that I follow, only FCX and KRY aren't overbought yet. Well, and perhaps MDG, GPXM and CUSIF.

 

Oh, and CAU's chart looks like hell - what is happening to that one?

 

Regards,

Vesselin

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Bont, look at the chart longer term and you will see that it broke well above its previous highs. And its price relative to the POG is higher. These are the reasons I said it was overbought. Since it is not an SA stock it will carry a premium.

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Charmin, SA stocks benefit from a weak Rand; not from a weak dollar. The idea is that they produce gold by investing local currency (rands) but sell it on the international market for dollars.

 

Regards,

Vesselin

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SA RAND gaining on BUCK will hold 'em back a little. DROOY is the one that has the leverage with its low production costs and gold reserves.

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