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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (80041)3/14/2001 9:46:01 AM
From: Sunny Jim  Read Replies (1) of 436258
 
Heinz, I am totally confounded by the gold market and would like your opinion. I keep reading how all the shorts have covered, the latest was from Reuters out of London with "All eyes this morning will be focused on today's auction. Given that most of the shorts have now probably covered their positions, there appears to be little impetus for a rally post the auction results,'' said one analyst." This is not the first time I have read a statement like this. The question is, how does this square with what everyone says about the HUGE short position in gold?? I'm starting to think that that's a myth promoted on the Gold Price Monitor thread and by the gold bug fanatic web sites and news letters. If there were such a huge gold short position and the prospect of covering had any chance at all of sparking a short covering rally, wouldn't at least a few big shorts be looking at the BOE gold as a savior from heaven? If there are so many shorts, they can't all be idiots - that's statistically impossible. How is the short position in gold documented and why can't the analysts see it? Just a few questions since the price action in gold is telling us that there is no "short" fear in the gold market (and hasn't been for a couple of years). Thanks for any light you can shed on the subject.
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