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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: mishedlo who wrote (183992)7/27/2002 9:15:30 AM
From: Real Man   of 436258
 
I think, with the huge volume on comex on Thursday and Friday, the commercials (read jpm) may now have reversed their short position and be net long gold. Also, big hedgers ABX and PDG sold off almost to 52-week lows, while hui went to 200 DMA. ABX has hedges at 340, and will be the first insolvent gold CO if gold moves much higher. Or they will have to deliver gold for 6 years into hedges. Imagine what this kind of production cut will do to the gold market, especially if the maniacs who hoard gold reappear.
Certainly, interesting times. Heheheh...
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