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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Henry L. Farmer who wrote (18366)	8/28/2003 5:19:29 AM
From: jimsioi	Read Replies (1) of 39344

Henry Farmer and the COTs Good analysis and factual presentation of the COT numbers. Plenty of food for thought as we watch the price of gold flight it out at the $370 line. Another good day through $370 seemingly is required to really have confidence that a break out has been experienced to justify the lofty levels of the miners. Will the golds and particularly the junior group replicate the insane advance made be the internet group. It will require substantially higher gold prices be maintained which in turn will require substantial investment demand for the metal be registered...Those are at least my reservations to say nothing about the aversion and ignorance investors have about miners and the seeming desire of the financial community to keep it that way...Things will have to be considerably different to have the type of promotion internet and telecom stocks received....perhaps one day but there will be several correction and pullbacks along the way... Open interest in GOLD rose to 243K contracts as of Tuesday the end of the COT reporting period - up 13K for the previous Tuesday....ONe can assume, I think that about 10K of that was added to the commercial net short position. Interesting close coming up for month end....I thnk its a bit the profit taking time on strength..

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