Gold's Six Month Base Near Completion Message Board

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Gold/Mining/Energy : Gold's Six Month Base Near Completion

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To: Bill Murphy who wrote (39)	5/30/1998 7:27:00 PM
From: KAZHAK	Read Replies (1) of 94

There has been an unusual amount of call buying since wednesday in both ABX and NEM. In ABX since wednesday about 10,000 of June and July calls were purchased in the 20,22.5 and 25 strikes. The buyer was said to be a customer of Societe General. In NEM the 22.5 in June and the 25 calls in july have also been active this week. There was also a bit more call buying in the XAU in the money calls. Since the call buying started ABX has stayed in the 19-19.75 range and NEM the 25-25.75 range. I wonder if you may have any insight into this current situation.You said in a previous post that the big gold producers would be the best stocks, after the Dutch selling is done. I have found a high correlation between sudden jumps in both option volume/volatility and big moves in stock price. It seems that both stocks have found at least temporary support here. Thanks for your response. K

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