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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (60831)	11/10/2002 7:11:40 PM
From: Real Man	Read Replies (2) \| Respond to of 94695

OI again. 75 is maxpain level for XAU for November, but its below 60 for December options. 320-330 is a very strong resistance for gold, 103-105 is a very strong support for the buck. Seasonal factors for gold and silver favor a decline into the end of November/ mid-December. All bets are off if the Dollar convincingly moves down below 103. Then gold will go to 360, while XAU will break out of its declining range. I think the odds for that now are lower than the odds for one more move down for XAU before it resumes an up trend in mid-December. I believe gold is in a bull market, and the XAU put position is to hedge my gold stocks long position. I may have to rethink this play in a week.