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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (42759)	10/12/1999 10:02:00 AM
From: Robert Dirks	Respond to of 116782

I smell the "October Correction" coming on. It's interesting that most of the mainsteam press has been ignoring this timeframe, and just focusing on the "Great Earnings" expected from the market. I like some tech stocks, but im totally out until Nov/Dec (Except for Golds)....... LOOK OUT Below..........

To: Crimson Ghost who wrote (42759)	10/12/1999 11:12:00 AM
From: Rarebird	Respond to of 116782

I'm bullish on Gold, George. The unhedged miners with great balance sheets will rise to the top here. I don't know exactly when but I know they will. I'm very bullish on HGMCY and HM here. Moreover, as you know, I'm fundamentally oriented. I never get caught up in the Momentum game. I'll always take some great profits if they are available; but I never forget the big picture. I am a Free Independent thinker with no axe to grind. As a Transcendentalist in the New England Tradition, I think for myself and survey the landscape. I appreciate and welcome your insights. But it is the Long Term VISION that matters.

To: Crimson Ghost who wrote (42759)	10/12/1999 2:13:00 PM
From: Alex	Respond to of 116782

Folks not believing the traders commitments report, Hmmmm........ 10/12/99 - CFTC official confident Fri gold commitments report correct Oct. 12-MAR-- [B] CFTC official confident Fri gold commitments report correct By Darcy Keith, Bridge News New York--Oct 12--The US Commodity Futures Trading Commission is confident that Friday"s Commitments of Traders report for gold futures is correct, an official with the CFTC said. The report surprised the market, showing virtually no change in the gross speculative short position--despite a huge rally in the gold price. The improbable figures prompted the CFTC to review the data. * * * The report covered 2 weeks up to and including Oct 4, when COMEX Dec gold futures traded at $318.00 per ounce. Dec gold was traded at $261.80 at the end of the previous reporting period on Sep 21. The gold trade had expected the non-commercial gross short position to have declined during the reporting period, helping to fuel this massive rally. But this gross short position decreased by a mere 126 contracts during the rally. A source with the CFTC suggested activities by option market makers may have resulted in a distortion in the numbers. Many market players had said they were surprised there was not more short-covering during the rally. One trader explained that there was "an awful lot of good call buying done in the market, which offset a majority of the shorts. Traders were stuck not knowing what to do, and they rushed to buy calls and held their shorts to see what would happen." Under this scenario, the net-short fund position in the futures ring would have been hedged somewhat in the options ring; if true, today"s Commitments of Traders report for futures and options, due out after 1530 ET, will show a significantly shorter non-commercial position when compared with the futures-only report. By purchasing call options to offset a pre-existing short futures position, a trader would hold an essentially flat total position above the options strike, while remaining short below the strike. This would be accomplished for only the cost of the option premium. End Bridge News, Tel: (212)372-7561 Send comments to Internet address: metals@bridge.com The Bridge ID for this story is ZYPRRV