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Strategies & Market Trends : Canadian Options

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To: Terry Maloney who wrote (1471)	2/7/2000 6:54:00 AM
From: Porter Davis	Read Replies (2) of 1599

>> did the action in gold yesterday affect the implied vols on ABX? Not too much, although there was a ton of selling at the first hint of a rally in ABX. People seem too eager to cash in on the first up-tick, which to my mind is a good sign for further advances. I must say I was disappointed that ABX was 'only' up $3, pretty small beer when compared to BLD's $10 gain or BCE's $16 move. I still look for about the $29 level for ABX, and with bullion up strongly this morning, we may see it yet. I did say the other day that I thought the chart looked pretty good for a rally in ABX and I'll stand on that. Better to be a little early to the party than late. I have no idea what to expect next from BCE, but boy, what a run we've had. We'll be adding 170 and 180 strike prices this morning, and those are numbers I never thought I'd see. Happy trading. Porter E&OE

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