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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: seminole who wrote (79208)	11/16/2000 11:18:44 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

o/t Gold report ~Metals Stocks Bank buying pulls gold to 3-week high By Myra P. Saefong, CBS.MarketWatch.com Last Update: 9:52 AM ET Nov 16, 2000 Newswatch Latest Headlines Get News Alerts NEW YORK (CBS.MW) -- Gold futures prices hit a three-week high Thursday morning, lifted by strong buying from bullion banks, as investors bought back into the market following nearly three weeks of trading around the $265-an-ounce level. Shares of precious-metals companies also rose. "The gold market saw more buying from Asia overnight, which is spooking some of the large fund short positions," said Dave Meger, an analyst at Alaron.com in Chicago. Large investors are buying back into the market and have taken gold futures out of their tight three-week trading range. The potential for a rally lies within the large fund net short position, Meger said, referring to the fact that many large investors have sold their positions but many have yet to offset that sale with a purchase. ================== George Cole; I know you've seen no signs of a bottom yet - allthough I do; maybe you should look at the XAU chart, or NEM's (VBG) ? OBV/Money flows positive and now the POG showing some vigor. Remember; Gold allways moves at the Tail End of Oil moves... OPEC countries will flee the US dollar (and equities & debt) to hedge the inevitable dual hit to their net Oil receiveables of a contracting US dollar & correcting Oil Prices... a Fed "cut" will be very bullish for Gold... just watch. OPEC tipped it's hand as well - saying; "why price Oil in Euro's when one can just sell dollars & buy Euro's"... PS: I'd play NG with calls and lay in wait for the chip shot "short" weather spike...as there aint no NOPEC...