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To: patron_anejo_por_favor who wrote (115564)	8/3/2001 5:41:45 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

can't say i don't like it, especially as it has happened in an UP week for gold. the most encouraging development is the shrinkage in the small spec net long. in silver, the small spec short position is at a five year, and i believe actually near, or at a record high. at the same time, i finally got ST buy signals on several HUI component stocks. the July/August period has a tradition of marking a seasonal low point in pm demand, and has produced several significant price lows in the past. this year, an August cycle bottom of significance should occur in the metals - several different methodologies converge on this time frame. it's of course not clear yet if that means another new low will be made before take-off. i doubt it, based on the HUI wave structure. wave 2 (either primary or 2 of 3 of 1) looks complete, or almost complete, to me.