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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.35

+0.4%

Nov 6 4:00 PM EST

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To: John Mansfield who wrote (23415)	11/25/1998 11:22:00 PM
From: Alex	Read Replies (3) of 116753

Maybe an answer from our friend Bill Murphy................... "We understand a substantial option position is being defended again by the bears which is contributing to the gold softness. The open interest fell to new recent lows to 152,167 contracts. The specs are bored so they are exiting and the trade does not (in an overall, general technical sense) ant to be short any more, so we have a dwindling open interest. When this occurs and you have a huge base, it is normally a bullish sign." gold-eagle.com

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