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Strategies & Market Trends : games trader group -- Ignore unavailable to you. Want to Upgrade?

To: LaFayette555 who wrote (470)	9/29/2000 1:26:39 PM
From: John Paquet	Read Replies (4) \| Respond to of 507

Last October ECB announced limited gold sales, and limited lending rates. Only small amonut of Swiss Bank might still want to sell gold, but that is pity amount though. Most importantly, current scenario indicated gold should be bullish, yet it did not reflected in the price level. In order words, gold is very much under value. So is XAU. I'm very interested in XAU option Call contracts. Like XAU OCT 55 call traded @$75 a contract but this contract could go up to $300-500 if XAU indeed breakout this level of 50 and heading toward 55 or 60 or even 65. If this case holds true, look at the profit/risk ratio. Risk is $75 plus commission in US dollar. I think XAU will hold up this 50 this Friday important support level. JP