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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (11641)	5/29/2003 5:05:21 PM
From: jimsioi	Read Replies (2) \| Respond to of 39344

Impressive rally, Gold, failure dollar... Missed the excitement today, but held on to the miner position I have... Valutrader says double top coming soon??? 145 or so on the HUI??? Hmmmm, I don't know. Of course first we have to get that far. Move in GG today suggests money outside the goldbugs ring came back to work on our side. Two very impressive late day rallies in GOLD - lets see if the bullish forces can cement $370 for the month tomorrow..... HUI - I see the possibility of a swing move taking it just over 150 - going to need about $380 gold to do it however..... stockcharts.com[h,a]dbcaynay[dc][pb40!c200!f][iut!Ll14!Li14,3!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G

To: loantech who wrote (11641)	6/1/2003 2:42:20 PM
From: Kaena™	Read Replies (2) \| Respond to of 39344

Let's hope $258 holds. Concerning COTs, Steve Saville of speculative-investor.com in his weekly update said today, "COTs very bullish for the US$," as the commercial traders are net-short Swiss Franc futures to the tune of 38,000 contracts, a number which corresponds with the March bottom in the dollar. For gold he points out that "although the commercial traders now have a very large net-short position (around 98,000 contracts), most of the 'longs' in the market are the large speculators." Over the past 2 months the small traders have remained on the fence with a 29,000 contracts net-long position while the big traders have fought it out. As such, the situation is very different from the way it was at gold's February peak when the small traders were 'frothing at the mouth' bullish. If nothing else this means that a sharp decline is not likely at this time because the least well capitalized and most easily panicked group are not heavily long." This Thursday, June 5th, the ECB decides whether to cut rates or not. There is speculation that they may cut by 0.5% which would take some pressure off the dollar. Of course if they don't cut, then the dollar would probably continue its drop. If $258 doesn't hold on a weekly basis, I will exit my trading position in gold stocks.