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To: mishedlo who wrote (269215)12/1/2003 7:17:46 PM
From: patron_anejo_por_favor  Read Replies (2) | Respond to of 436258
 
<<Commercial short position is meaningless IMO.
They produce gold
They sell it>>

Not all of them do....look at GoldCorpse.

And not all of them sell forward (in fact fewer and fewer of them do). I understand your point, though, that the Specs are more significant on a week-in, week-out basis. I think we're in a long term bull on the bullion, and will be buying dips. The POG will be higher a year from now, in my mind the only question is will it be at 550 or 1550/oz....<G/NFG>



To: mishedlo who wrote (269215)12/2/2003 10:58:31 AM
From: ild  Read Replies (1) | Respond to of 436258
 
<<<Commercial short position is meaningless IMO.>>>
Look at the same picture from the other angle. Specs are very long. At some point they will want to take profits and stops will be run. The fact that short specs have covered at a loss is also bearish. Of course the specs are the ones who drive the market, but as of now risk/reward is not favorable IMO.


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