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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

Nov 10 4:00 PM EST

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To: Crimson Ghost who wrote (74432)	8/17/2001 8:31:20 PM
From: Rarebird	Read Replies (8) of 116753

The Commercials are now short a whopping 55K contracts as of this past Tuesday. I'm somewhat surprised given the steep drop in the USD. Here's another test for the Gold Bulls and their thesis that speculative demand will push the POG dramatically higher. The economic fundamentals are clearly on the Gold Bulls side, but money talks and the commercials have won every battle over the specs in this market since 94. Something is very wrong here IMO if these insiders can be so massively short given the economic, interest rate and currency exhange rate, fundamentals. Betting against these guys when they are short like this is asking to get burnt. But I think they are wrong so I'm staying long. Can Right beat Might? I just don't know if the bulls have enough genuine fire power and infinite endurance powers to beat these guys.

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