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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (3259)	2/9/2001 4:05:27 PM
From: John Pitera	Read Replies (1) \| Respond to of 15481

Let me guess it broke a triple top -g- It's a very nice chart. market vane bullish % on gold was 14% today, second lowest reading , the only other one lower was in Sept 1999 prior to the big advance. also the CFTC commercials report shows the biggest small speculator short position since Sept. 1999. SO a rally may be near. -----Friday's CFTC report showed a still large non-commercial net short position of over 50,000 contracts as of January 30 for COMEX gold. For the week, this net short position dropped by almost 4,000 lots. This is still the largest speculative net short position for COMEX gold since September 1999, prior to gold's sharp recovery from 20-year price lows. Short covering price rallies are expected to be constrained by weak investor demand and ample supply from the official sector. Sentiment is turning more negative along with the supply and demand outlooks suggesting a move down to the 20-year lows set in August 1999 at $252.50.---