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Strategies & Market Trends : Strictly: Drilling II
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To: Murray Grummitt who wrote (14508)6/19/2002 1:00:05 PM
From: ItsAllCyclical  Read Replies (1) of 36161
 
Murray - regarding gold and options.

If you look at the July options for the XAU and NEM there will be pressure on NEM and others to close up another 10% during the next month. Sept options could put downward pressure, but that fits my scenario which is on spike in gold during the next two weeks as the market finally capitulates (maybe a double top, maybe we break 330 - not sure). Then when the Naz rebounds gold drops off into early fall, then maybe a Naz retest (full or partial) of these lows and gold goes $400. But who knows. I will say odds favor at least a retest of the recent highs in gold before swooning further. JMHO.
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