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Strategies & Market Trends : Strictly: Drilling II
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To: Crimson Ghost who wrote (938)8/31/2001 9:12:43 AM
From: isopatch  Read Replies (1) of 36161
 
George. Think you've got a good contrarian theme there.

Just looks like too many people are hanging their hats on that commercial short position.

Reminds me of how commercials in NG (the E&Ps) were way behind the curve throughout 1999 and into 2000 with far too many low priced forward sales.

But, even after the gold hedge book cut backs, in recent months, quite a few gold companies are far too bearish in their hedging considering the monetary environment as well as the other bullish factors we've discussed here many times.

Agree with your thesis that gold commercials are going to get zinged by the big speculators and hedge funds.

Best regards,

Isopatch
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