Newmont Mining(NEM) & Newmont Gold(NGC) Message Board

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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)

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To: ahhaha who wrote (112)	4/16/1999 11:03:00 PM
From: Broken_Clock	Read Replies (1) of 587

They certainly seemed to be screaming into gold this week. -g- The amazing thing to me about this turn is that, so far, it has not been accompanied by commercials liquidating their longs on the COMEX. Considering the OI is, according to Kaplan, an all time high, it seems that shorts and longs have really upped the ante this time around. I think if I was short COMEX and saw the xau volume both here and abroad, I would be puckering up a bit right about now. 80 on the xau would break the 2 year slide. Do you give any credence to technicals as such or simply give them a passing nod as a reflection of what the futures traders are doing....or, do you even care? -g- The last time the xau hit the downtrend resistance, the commercials dumped COMEX gold longs in about 2 days and then the shorts jumped onboard big time. I don't understand the big picture for the traders, but I would like to use these fluctuations more to my advantage. I am certainly keen on parlaying my paltry gold stake into something larger by the time gold really takes off.

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