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To: Zardoz who wrote (41502)	9/29/1999 11:05:00 AM
From: goldsnow	Respond to of 116764

The Rally is over. >>> You do realise what has transpired, right? It is like saying Hurricane is over, destrution does not matter

To: Zardoz who wrote (41502)	9/29/1999 11:44:00 AM
From: Alan Whirlwind	Respond to of 116764

If you're so sure of yourself, why don't you start shorting right now? You're starting to sound like Clinton with all your know-it-all baloney.

To: Zardoz who wrote (41502)	9/29/1999 11:47:00 AM
From: Tunica Albuginea	Read Replies (2) \| Respond to of 116764

Hutch,we are at 25 day moving average. Doubled my position, NEM, ABX, GOLD,HM, Good luck to one and all, GG, :) PS: what do you think XAU and gold stocks will do Fri when NAPM data come up higher than expected? TA Message #41502 from Hutch at Sep 29 1999 10:52AM The Rally is over. It was over on Tuesday, just like usual. Futures expiration. When the LBMA market closes at noonish NY time, you may well see a run up in the POG. But it will be a time to short, or get out. ABX CEO: "Demand looks good" Hutch: "So does supply" NOTHING is different today then last week. The ECB although setting limits, have set the limits extremely high. But they alone are not the whole world. If we assume that Demand is around 2600 tonnes {WGC} then that 400 tonnes is effectivley 16%. A small value, when the producers are still increasing supply. And much of that supply can be sold into futures, WHILE they fulfill previous future contracts or loans. The case for higher gold is still not made, but sucker rallies of expiration of futures {where Future options partake} can make for a volatile market. In other words, you are battling the hedge funds, and unless you know when to sell, you are playing into their hands. The long standing edict of buy and hold is crap that Funds traders love to propagate. If GOLD is a currency, it's over valued; if gold is a commodity, it's over valued. So those that hold beyond this day are either hopeing for world currency devaluations, or hoping for supply removal. The Future squeeze is over, the producers waited by NOT selling into the spot. Heck it was in their best interests. Hutch PS: Regretting I was to sick to short yesterday.... But I'm better now, and will IF their is a rally after noon EST.

To: Zardoz who wrote (41502)	9/29/1999 12:09:00 PM
From: John Paquet	Read Replies (1) \| Respond to of 116764

RE: " Regretting I was to [too] sick to short yesterday...." <ggggg> Hutch, you were in fact too scary to short yesterday as that Yellow metal had huge run up. Now you are regretting because it is hindside right???? <ggggggg>>> To some points you are right, yesterday run up due to Option on future expired [BTW, not future expired as you claimed] future October first notice day roll over day,etc has some impacts on yesterday huge move. But fundamental and market sentiment has changed significantly. CB has no longer that big sell off threat plus IMF, either. Gold has huge turned around. I heard some called "big spike pattern", today ornext couple days is just a correction or consolidated this huge gains in a very short time frame. The trend is up. TEchnically, it had that $325 barrier to be overcome. After that breakout, gold will be $400. CB set sale and lease limits also set time 5 years. Within these five years, policy makers will be changed anyway.. CB will no longer be playing in this demand and supply equation. As I remember correctly, Alan Greenspan would love to have gold to hang in around $400 for his chairman tenure of that FED. So $400 is my target of this bull has to reach, I bet it will happen sooner rather later maybe much earlier before Y2K. Good luck to you, if you have the gut to short. [But I am so sure you would nothave that gut to say the least.] John Paquet