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To: ild who wrote (269192)	12/1/2003 4:24:23 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

Ouch.... Commercials shorted more gold

To: ild who wrote (269192)	12/1/2003 7:08:41 PM
From: Roads End	Respond to of 436258

Date: Mon Dec 01 2003 14:15 trotsky (blind pilot) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved well, we're also going to produce a 'hanging man' on the candle-stick charts due to this open at the high, sell down and retracement. in any event, the warning signs are beginning to proliferate - e.g. many gold penny stocks with questionable fundamentals have begun to make big moves. the problem for traders is that this is also the stage where the biggest percentage gains occur, which makes it difficult to decide what to sell where. nevertheless, one mustn't lose sight of the fact that penny stock blow-offs are the equivalent of a bell ringing. the best strategy is probably to gradually reduce exposure, speaking for myself, anyway. Date: Mon Dec 01 2003 12:21 trotsky (Gspot et al.) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved thanks for the responses. it's probably a bit too early for the pm stocks to have topped, based on the idea that the '96 high in the PoG is a strong price attractor. no doubt today's trading is a bit of a warning shot though...all the intermediate term tops over the past 3 years have coincided with a period of relative weakness in pm stocks vs. the PoG. per experience however, you need 3 days of underperformance in a row to confirm a top. all that said, the stocks are already discounting 450 or more - at 420 they'll probably discount 470 or 480, but there can be little doubt that the risks have increased considerably.