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To: AllansAlias who wrote (40603)	5/29/2002 1:22:20 PM
From: Paul Shread	Read Replies (2) \| Respond to of 209892

How can you have a steep pullback in both gold and the stock market at the same time? That said, I agree that POG faces a heckuva lot of resistance at 327.50.

To: AllansAlias who wrote (40603)	5/29/2002 2:07:15 PM
From: Jim Willie CB	Respond to of 209892

JPMorgan, hedged miners are now desperately covering the gold market smells blood the runup in gold is very minor so far about 5% since midApril I believe many are underestimating to the extreme the levels of naked short futures and option positions by the likes of JPMorgan, Citibank, GoldSachs, Barrick, AngloGold, Newmont acqns, etc on Friday May 17th JPM issued a sell reco on gold shares the market response was a gold breakout !!! today a GoldSachs sell reco again but they cite Barrick and AngloGold as extended sure they are extended, ON THEIR HEDGE BOOKS the hedges are corrosive and acidic to their balance sheets even Newmont suffered $400M in hedgebook unrealized losses from newly acquired Normandy Gold this should amplify the significant damage upcoming I expect Barrick to go bankrupt before end of year or close to it, a near death experience that should ignite yet more investor interest in gold why a pullback when the back of the Gold Cartel just got broken? they are exhibiting desperate behavior now they face a combined $1 billion loss roughly some intraday backfilling is what I see, and have seen, in a big way, regularly the short covering will be a constant source of buying now / jim