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

To: Rarebird who wrote (75227)	8/17/2001 8:45:13 PM
From: re3	Read Replies (1) \| Respond to of 116753

today i did something for the first time ever (and it has nothing to do with sex sex or sex!) i bought some poots on a gold stock, your favourite of course (NEM) i wonder how many people are making a living just trading NEM ?

To: Rarebird who wrote (75227)	8/17/2001 9:25:32 PM
From: The Vet	Read Replies (1) \| Respond to of 116753

Rarebird how did they get so short without any appreciable move in the lease rates? The lease rate theory espoused on this (and other) threads says that the shorts lease gold to sell it, so when lease rates go up then gold goes down.. If this didn't happen then are the shorts fully naked or is the story about leasing gold by shorts a load of old bull?

To: Rarebird who wrote (75227)	8/17/2001 9:44:03 PM
From: Square_Dealings	Respond to of 116753

Large Specs are going heavily long. Somehow the mining strikes or threat of mining strikes must be entering into the equation. Large Specs could be banks going long while mines are hedging again. Not sure of the explaination M.

To: Rarebird who wrote (75227)	8/18/2001 12:54:41 AM
From: t4texas	Read Replies (1) \| Respond to of 116753

cot was from the 14th wasn't the cot from august 14th. the commercials may have reversed the trades later this week. gold got quite a pop late this week, so it seems it could have been their short covering as well as people getting long the metal

To: Rarebird who wrote (75227)	8/18/2001 9:54:47 AM
From: yard_man	Read Replies (4) \| Respond to of 116753

they are net short 55k contracts compared to what? How much were they short the prior week? I'm going to stay long and ... probably wrong. Maybe they expect some sort of intervention. Certainly wouldn't surprise me at this point ...

To: Rarebird who wrote (75227)	8/18/2001 11:00:55 AM
From: Crimson Ghost	Respond to of 116753

It has not paid to buck the commercials since 1994. But the commercials were heavily short during the big 1993 gold bull. They can be surprised by an unanticipated surge in investment demand because of exogenous shocks to the system and remain on the wrong side of the market for quite some time.

To: Rarebird who wrote (75227)	8/19/2001 10:50:06 AM
From: Tommaso	Respond to of 116753

I guess maybe they have been shorting and winning every time gold went up a little. But at some point they could be disastrously wrong. After all, these gunslinging money managers and investors were going long every sort of tech and Internet stock for several years, and never losing--and much longer term (since 1982, really) buyers of sounder stocks have always been proved right. At some point everything turns around, and we could be at that point.