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

To: Softechie who wrote (9501)11/27/2001 9:18:37 AM
From: Square_Dealings  Read Replies (1) | Respond to of 19219
 
Mining companies are consolidating. There is a merger mania going on now in the gold mining sector. Hedges are coming off and I think they are positioning for higher gold prices. They shorted heavily in the 290 range and are covering here at 270.

Doesnt mean gold is going up yet but selling pressure has been significantly reduced for now.

This Friday is first delivery notice for the Dec gold futures contracts and today is BOE auction. So probably wont move up much until next week imo.

M.



To: Softechie who wrote (9501)11/27/2001 3:21:19 PM
From: Moominoid  Read Replies (1) | Respond to of 19219
 
I dunno. The gold producers have reduced their short position the speculators have gone short. Two have to add up.....


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