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To: ild who wrote (224273)	2/27/2003 1:15:19 PM
From: ild	Read Replies (2) \| Respond to of 436258

<<<My current outlook for gold and gold mining shares has improved to MODERATELY BEARISH>>> truecontrarian.com MODEL PORTFOLIO: 50% of my money is in GICs and similar low- or no-risk investments. I have a significant short position in gold and silver mining shares, but have now placed buy orders to cover at various levels below the market (some of which are substantially below current prices), as well as buy orders to purchase other gold mining shares which I prefer to own when I go long. As a short-term trade, I have recently gone moderately long the U.S. stock market, including the Nasdaq. I have a small long position in SWC. Comment: Date: Thu Feb 27 2003 11:01 trotsky (Scott TL) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved nothing wrong with SJ Kaplan, if you forget for a moment that he missed practically the entire bull market in the gold sector to date. also, his 'analysis' consists simply of an extremely simple-minded ( mis ) interpretation of the weekly committments of traders report. following his logic, a gold rally can NEVER occur, since the commercial hedgers short every single one of them. in that sense he sure must have ben surprised that a rally HAS occurred. he was bearish at 280-...at 290, at 300, at 320, 330, 340, 350...and, of course, 380. got that last one right, a la Prechter.