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Gold/Mining/Energy : Precious and Base Metal Investing

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To: LLCF who wrote (32394)	11/17/2004 9:14:12 PM
From: Louis V. Lambrecht	Read Replies (1) of 39344

If business as usual, half the Dec contracts will have rolled forward by next week, most of them at the end of the month. You also have to survey the year on year contracts, Dec 04 rolled into Dec 05. Bast, this is only paper, forget the notional. These charts from last Monday, lvlamb.itgo.com There is accrued OI total open interest (reported today, for the session of Tuesday = before the POG rose), while silver total OI decreased a bit as normal. Open interest of silver for the March is rising faster than OI for the gold FEB. A rise, this late in the life on the contract is unusual. But the US Dollar didn't broke support the same way at other times. Comex being a paper market, don't expect the large specs to have a one leg only position, usually they have a second leg, and not necessary in the same market. Warnet for some weeks that OI is high on the metals, also warned for oil and was completely wrong when I did. <g>

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