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

To: mishedlo who wrote (24362)	11/21/2003 10:48:49 AM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 39344

Mish, options expiration and futes rolled yesterday (last trading for most contracts on 3rd Wed of the month) in London (which still weights 5 times the Comex). Last trading day for Comex is Monday, I agree with that, first notice of the Dec futes is the 26th (care to take position before the long weekend? Who is going to switch on the lights on Friday?). First thought we could have an indication today from London (how much physical requested for delivery, vs. rollovers/calendar spreads). Then f%$#@#$ Barrick came in pledging for the end of forward sales. (How convenient?). What bothers me is that, so close to first notice, the lease rates are not rising with still 140K contracts to roll or be assigned delivery by the 26th. Tough week to trade.

To: mishedlo who wrote (24362)	11/21/2003 12:24:40 PM
From: energyplay	Respond to of 39344

Wrong-Way Barrick Gold Should Cue Shorts By James J. Cramer 11/21/2003 11:14 AM EST URL: thestreet.com Gold BEARISH Larry Kudlow thinks gold should be shorted. *A recent decision by Barrick Gold shows he's right. Short gold! My partner on my television show, Larry Kudlow, thinks that gold, the metal, has run too far, too fast, and should be shorted. I just got a piece of evidence that says he is right: Barrick Gold (ABX:NYSE) , which hedged gold throughout the dramatic run to $400, has just stopped hedging, according to an interview at a Euromoney-World Gold Council conference. You couldn't have been more wrong with that ABX the whole way up. Does it stand to reason that now that the company at last no longer is hedging out the upside, that the upside must be through? I have made a living betting against people and companies that are always wrong. Barrick Gold is always wrong. Short gold.