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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: regli who wrote (35413)8/16/2005 11:07:31 AM
From: mishedlo  Read Replies (1) of 116555
 
Heinz on gold....

Mish:
In 420
Out 449
Hoping for a pullback
May not get it

Heinz:
it's already begun, imo. i don't really believe there's a whole lot of short term upside beyond 450 barring an event. 450 is home to the largest call OI....to go through that will be difficult. also, specs have now a huge net long position in the futures (per se not a reason for a decline, but it'll magnify the decline when it comes).
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