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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: heehee1 who wrote (59043)	5/8/2002 8:49:49 AM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 100058

heehee - basically yes. IMO this could explain yesterday whipsaw on the metal. Countering that play is the large spec long position. Appatently most hold their bets and new bets are added, as if they wait for much higher prices. While commercials are adding to the short, and will be at a maximum short at the rollover. IMHO, (geez! not much evidence in my posttoday) the test of the bull will be around $325. I have seen in many newsletters that the metal is not worth looking at before a clear price above 325. As I said, after Friday, that options BS overhead will be cleared. Then the market will start pondering wether the Jun futures (which will be "deliverable" at the end of the month) will be rolled over or settled in physical. In the meantime, metal price is following the Dollar index. If of any significance, as a result, gold prices in Euro a moving sideways within a triangle. To break soon. Either gold or the Dollar/Euro pair have to give way. Which mean that the break would be either a lower Dollar AND a lower Dollar denominated gold price (higher Dollar), or a higher Euro denominated gold price with a much higher Dollar gold price. Or another way, the market is a bitch. <vbg>