The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (61596)	5/22/2006 11:09:10 AM
From: ild	Read Replies (2) of 110194

Date: Mon May 22 2006 10:22 trotsky (@pm stocks) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved still no short term low - this is incredible. down 8 days in a row is a new record i believe. note: Rydex pm fund cash flow ratio now only $10m. from its 2005 low ( when the XAU hit 78 poins ) . XAU p/c OI is at a 2-week high of 1.12. HOWEVER - speculators are net long by nearly 70,000 contracts in the SnP index - a multi-year high, similar to the spec long position during the 2001-2002 collapse in the index. this indicates that there is grave danger of a continuation of the recent downward movement in the broader stock market. this is imo the reason why gold shares can't rally - there is an ongoing liquidation of all types of financial assets in the wake of the stock market slide - except for the safe haven that money always flees to in these circumstances - namely bonds ( speculators are also holding a record net short position in bond futures , so more furious short covering is likely ) .

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