MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (9626)	12/21/2001 7:57:44 PM
From: Square_Dealings	Read Replies (1) of 19219

Something doesnt add up on the COT. Who was buying during the three or four days that gold moved up off the bottom? The COT shows non commercials were mostly covering shorts rather than adding longs, and the commercials were removing long positions and adding shorts. So what cause the POG to move up $7 during that time? I would like to know who the "commercials" are. My guess is that ABX is actually in cahoots with JP Morgan and the other banks that are short or hedged gold. Since Newmont essentially sealed the deal with Normandy and will become the largest mining co. in the world and unhedged, there is a major battle between the Newmont (unhedged) camp and the ABX (bankers) camp going on. I think the COT report is designed to influence trader sentiment. The timing of course is meant to negate any bullish signs in the POG and XAU charts. jmo Without the end of day jam job on the gold stocks it looks like the XAU might have been close to a minor breakout. M.

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