Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: jimsioi who wrote (25193)	1/9/2003 4:21:06 PM
From: ItsAllCyclical	Read Replies (1) of 36161

Again, if you're looking at NEM, examine the options: quote.cboe.com Max Pain doesn't always work, but I've watched it enough to give it some respect. An ideal situation from an options standpoint would be to have NEM close around 28.5 sometime next week. I've noticed though in watching the QQQ's that Max Pain is often hit the week before options expiration. As such I think we could see a nice rally at any time going forward here in gold (assuming the options sellers are now hedged). I'm not ruling out one last swoon down to POG 335 or 340, but I think it's more likely to consolidate around current levels, break 356 on the close and rocket up to 370ish before serious consolidation. After Jan, the NEM options are relatively empty looking out. By spiking gold they don't give the gold bulls the chance to load up another time on cheap options. Quite a few March puts to close above too.

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