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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Louis V. Lambrecht who wrote (14085)7/15/2003 6:12:18 PM
From: crustyoldprospector  Read Replies (2) of 39344
 
fishy: options week

calls exceeding puts:
issue / strike / difference in contracts
NEM 32.5 +4000
ABX 17.5 +8400
PDG 12.5 +11,000

Kill two birds ... good time to shake out some weak hands and make sure those calls expire worthless. Slow sto's and RSI on the XAU were close to oversold, so better to turn the knife now than risk a bullish surge in gold stocks, while the general market bleeds for the rest of this week.

Short and sharp drop ... was thinking this set-up was due.

I doubt XAU goes much below 70, if at all.
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