MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Softechie who wrote (9501)	11/27/2001 9:18:37 AM
From: Square_Dealings	Read Replies (1) of 19219

Mining companies are consolidating. There is a merger mania going on now in the gold mining sector. Hedges are coming off and I think they are positioning for higher gold prices. They shorted heavily in the 290 range and are covering here at 270. Doesnt mean gold is going up yet but selling pressure has been significantly reduced for now. This Friday is first delivery notice for the Dec gold futures contracts and today is BOE auction. So probably wont move up much until next week imo. M.

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