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

To: ild who wrote (18829)	8/30/2003 9:51:39 PM
From: Joan Osland Graffius	Respond to of 39344

ild, Yes, there are always the large specs that like profits. <g> I agree that we have had a good run during the last three weeks and would expect some folks to take some profits. I noticed most of the stocks were sold on Friday. We have had this process since November of 2000. Specs taking profits, the weak hands holding stocks have to be shook out of their positions and the commercials are getting a price above costs for their products. I am curious as to how many specs are long the metal using it as a hedge because of lack of confidence in the US currency, financial system and the leadership. A hedge fund manager was on with Fleck on CNBC last night and he was long crude oil. I think he was using the oil stocks. He also was long Japan.