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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (105858)5/31/2001 10:01:41 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
Fleck with an interesting (somewhat bullish) take on trading in the yeller dog today:

Clean Up After Your Yellow Dog Turning to the other currency market, i.e., the gold market, the liquidation in open interest was a massive 18,000 contracts, which brings the two-day total up to about 23,000 contracts. If the market can stabilize within the next couple of days, that will be constructive. All the new speculative money has just been washed out, as a drop of 18,000-plus contracts is a mighty hefty chunk to come out of the market. We'll need to see what kind of action takes place over the next couple of days, but I'm cautiously optimistic that we'll be getting a wonderful chance to add to gold positions. This assumes that the shake-out is just standard, rather than the rally having been just more noise to the upside. Stay tuned. Today was rather quiet, with gold down $0.50 and silver down about $0.035.
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