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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (9497)	11/26/2001 10:10:47 PM
From: Square_Dealings	Read Replies (2) \| Respond to of 19219

Huge swing in commercial shorts in today's COT report. Reduced gold shorts from 23,000 to 2,400 Lowest number of commercial shorts in at least 12 weeks. Cant see the data further back than that, its probably a 16+ week low. M.

To: J.T. who wrote (9497)	11/26/2001 11:02:07 PM
From: macavity	Read Replies (2) \| Respond to of 19219

Always the contrarian, I guess! I am just looking at XAU mind you; I know nothing about the J'burg gold index. HUI does look a lot better, so obviously the 'hedgers' are driving XAU down. I agree that this could be a good entry for a 'long-term' add - e.g. 12mths+ but I thought that that would be longer than most time horizons here. Looking at both XAU and HUI in monthly and weekly charts - this move down does look and feel like a 2 wave: :industry consolidation :doubt that rally (wave 1) was for real :no positive change in observable readings - Gold Price. (This was at about 270 at 2000 year end).But a marked improvement in technical picture. but as I said this is for a 12mth + view. JMHO! short AIG;NBR;RIG -macavity