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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (64291)6/21/2006 2:54:02 PM
From: ild  Read Replies (1) of 110194
 
Date: Wed Jun 21 2006 14:37
trotsky (@pm sentiment) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
a few interesting recent developments:

1. the Rydex pm fund CF ratio remains BELOW its 2005 low, i.e. skepticism continues to be quite high.
2. the XAU put/call OI ratio has recently jumped to 1.34 ( 134 puts for every 100 calls ) with the expiration of the June series. concurrently, aggregate put/call OI on individual gold stocks has fallen sharply. this combination ( high index p/c ratio with low component stock p/c ratios ) is per experience a short to medium term bullish indicator.

iow, this rebound could have some legs, especially as there is lots of room for funds to flow back into Rydex and other gold related funds ( i use Rydex as a microcosm of such fund flows in general, as these flows correlate very well ) .
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