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Politics : Stockman Scott's Political Debate Porch

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To: D.J.Smyth who wrote (3055)7/23/2002 5:34:10 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
I read a bunch of GOLD opinions over on Drilling thread
here is what I read in outline form

gold shares are strangely down worse than the metal itself

possible Fed intervention to clear out much of JPM's gold derivatives, such as a forced liquidation at a given price, thus allowing JPM out the back door... only problem is that they have so many contracts, and many of them are exotic

powers that be might be lowering the gold price in preparation for some imminent event to help JPM in the gold books... the lower the price of gold, the easier it is to finish the job... all these games might spook enough trader longs in the futures pits to take gold price lower

the washout in PM stocks is very close to ending, with some ready to reload

much of the gold stock rise was speculative and dangerous

ultimately the gold dog will run loose, only unsure when

I say "watch Asia and the next few days on metal's price"
last time gold touched #310 in Asia, it jumped strongly

fwiw, grub grub / jim
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