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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: marginmike who wrote (89763)4/4/2001 11:21:15 AM
From: John Madarasz  Read Replies (1) of 436258
 
Thanks for that Mike...

I won't be surprised to see the XAU get back to it's 50 dma, I just think breaking that uptrend line showed the real possibility of some longer term weakness. When you are down this long the bases can extend for quite some time as you know... and I know you are patient about this so the point is moot.

Also, the last buy signal given by the COT's in gold was 7/20/99 and the commercials were net long 91690 contracts. As of 3/27 They now stand at a net long 29647...down 2581 long contracts from the week before. Copper is closing in on a 5 year record net long.

We shall see.

Best Regards,

JM
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