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Strategies & Market Trends : TA- Advanced GET

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To: Allan Harris who wrote (329)2/24/1997 1:55:00 PM
From: Arthur Tang   of 1551
 
Thank you, Allan

Your retrace theory based on technical rebound is a good piece of work. However, the futures market today, depends on big buyer of gold to move inventory out of warehouses (London, Tokyo, etc.). The big buyers are mostly in jails, for fraud and forgery crimes. Plus the fact that inflation is low; Europe central banks for unified currencies have to shed gold reserves for fear of large low cost gold production coming from Indonesia. Trending without the support from the reality of economical policies around the world is very difficult. Who can move silver without the Hunt Brothers? Salomon Bros. lost twice last year; $50 million then another $30 million on silver. Last one on stradle between NY and London.
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