Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (11438)	8/19/2002 2:16:00 PM
From: The Vet	Read Replies (1) of 16631

The word on kitco is that it is the specs going short which means the commercials are going long. This is a complete reversal of the action on COMEX for many years, and is letting a lot of long term shorts (the smart money) out of their short position. The commercials are usually right in the long term. The shares are not dropping as badly as I would have expected so I don't see this as any more than a attack by the gold bears, not a change in longer term direction. Anyone who agrees with me should be buying DROOY under $3 for a short hold and a quick 25% gain. Personally I am still holding HGMCY, GFI and TVX and nibbling on cheap DROOY. If I keep HGMCY until Friday I will get the dividend, but that may turn out to be false economy to gain 40 cents, but I am not too worried (yet).

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