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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: patron_anejo_por_favor who wrote (4252)4/1/2004 7:16:04 PM
From: patron_anejo_por_favor  Read Replies (1) of 4905
 
...and he's also concerned about the ST bearish action in Crude:

Date: Thu Apr 01 2004 14:43
trotsky (crude oil) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
the crude contract just got whacked big time on a relatively minor piece of bearish news...that's a warning sign for gold, which has an even larger net speculative long position ( the long/short ratio is much larger actually ) .
we know already from experience ( i.e. from the run-up in the prior up leg from 370 to 430 ) that this position isn't a good timing indicator - but it hangs over the market like the sword of Damocles anyway.
presumably that's also the reason why gold stock money flows continue to suck.

...as well as the Gold futures themselves:

Date: Thu Apr 01 2004 10:28
trotsky (June gold contract) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
on the move over 430, a huge rally-stopping seller entered the market. this is disconcerting, as the recent correction low was marked by a volume spike of similar size. it also marks the 430 level as the new maginot line that will be difficult to overcome ( i.e., if it is overcome it will probably take several attempts ) .
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