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December 17, 1903


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the real books get squared in march & september for bis's otc. long ride into march...

Don't know exactly what you mean by that the the gist of it is certainly wrong.

 

It is well known that liquidiity dries up in the currency markets as December progresses, with end of year book and position squaring.

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Still too many non believers in the euro rally, sorting into strenght, seeing the muther of all bear market rallies in de dollar at any time. Fear is with the winning trend, as in the gold mkt. Weve had massive dollar intervention by the BOJ, SH captured, the DOW rallying over 10.000, and yet euro making new lows, and gold hanging there. Who is afraid?

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Extract from Gold Seeker Daily Report

 

Valuations: If we do some calculations, Vista has about 2/3rds an ounce in gold resources per share and .17 ounces per shares in mineable reserves! This means the market is valuing them at $24.53 market cap per mineable reserve. Mineweb.com reported market capitalizations of other non-producing companies with similar mineable reserves valued at $91 ? meaning that if Vista Gold were to be priced at comparable valuations, their shares should be trading around $15.49! One could make a convincing argument Vista could be higher by the amount of 271% from today?s close of $4.17!

.......

Our Recommendation: Strong Speculative Buy ? If you feel gold is headed higher and especially much higher, Vista looks very attractive at around $4/share, well below relative valuations of similar companies. We will continue to closely follow VGZ for Gold Seeker readers and add it to our Gold Seeker portfolio: VGZ Buy at $4.17 December 12, 2003.

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Don't know exactly what you mean by that the the gist of it is certainly wrong.

 

It is well known that liquidiity dries up in the currency markets as December progresses, with end of year book and position squaring.

i'll clarify, the derivatives overhanging forex are squared in march & september at the bank of international settlements.

 

imo, those are the key timeframes.

 

you are certainly correct as to year end squaring, just pointing out the bankers bank settles inbetween.

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