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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (25193)	1/9/2003 4:21:06 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 36161

Again, if you're looking at NEM, examine the options: quote.cboe.com Max Pain doesn't always work, but I've watched it enough to give it some respect. An ideal situation from an options standpoint would be to have NEM close around 28.5 sometime next week. I've noticed though in watching the QQQ's that Max Pain is often hit the week before options expiration. As such I think we could see a nice rally at any time going forward here in gold (assuming the options sellers are now hedged). I'm not ruling out one last swoon down to POG 335 or 340, but I think it's more likely to consolidate around current levels, break 356 on the close and rocket up to 370ish before serious consolidation. After Jan, the NEM options are relatively empty looking out. By spiking gold they don't give the gold bulls the chance to load up another time on cheap options. Quite a few March puts to close above too.

To: jimsioi who wrote (25193)	1/9/2003 9:30:39 PM
From: jrhana	Respond to of 36161

Re NEM and all I actually have no NEM or MDG GG AEM and definitely no ABX or South Africans. I also have noticed that Fidelity Select Gold has drastically cut back on its NEM position as well as completely eliminating ABX Both of these were always very large positions for them. I believe NEM management while professing to be gold bulls thought that gold would hang out around 290 for a few years allowing their newly found acquired hedges to quietly expire; instead those hedges are a significant headache for them. Incidently I have lots (in no particular order)of PAAS SSRI GLG ELD BAY MFL WTC CBD KGC SWG MNG IAG WHT CKG MNP SEA and some bhk bgi moy mdn sul rdu ymcu pgi +sml And all my accounts are at all time highs well all time post bubble highs I must confess one or two (but not most) were higher in March 2000, that is I did ride that first big down draft down for a while...oh well I wish I had known you guys then.