At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Nikole Wollerstein who wrote (765)	9/8/1997 12:30:00 AM
From: Jim Ilchyshn	of 1911

Nikita, I'm betting on silver for now...Just bought some options last week. There are some good articles on gold and the markets in www.gold-eagle.com. One I like is gold-eagle.com. Frank Veneruso has a $8,000/yr. newsletter. He is quoted as saying the short position in gold is 2 tonnes by the traders. Commercials are net long right now and we know who almost always eventually wins. A $50 short covering day is not inconceivable. James Blanchard (The Gold Letter) thinks the short position is more like 3 tonnes. That is more gold than China holds. Where are the traders going to come up with the precious metal to pay back their positions?????? Good Luck, Jim.

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