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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (4806)	4/25/2004 1:57:50 PM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 60911

Didn't have much time this weekend commentimg my OI charts on the metals, here there are raw: lvlamb.itgo.com lvlamb.itgo.com In short: silver total open interest is at the low range of a stealth rally, and tho. the price dropped 25% (so, sends me back to school <ng>). Unexplainable, there is almost no wide swing in OI. Compared to last october when there was a huge drop in OI with a "normal" correction of 10% in the price. If "business as usual" and the net commercial shorts shrink (above the fat green line) there should be further correction in the price. Ouch! Gold total OI is close to the low end of the channel, should shrink a little, then start increasing again, leading to an increse in gold prices. And this is confirmed by the CoT net short positions close to the upper channel and about to have run course. (Commercials about to revert their position again). Still have tto work on these OI figures as I observed that only two values are of importance: total reportable non-commercial long positions (= speculative interest which sustains prices) and the cange in commercial long positions (commercials loading on the long side, at first sight, a ROC on commercials longs is one of the keys). Observd that net positions are not indicative. Have to structure all those data in a workable database. But in summary, as for now, my charts tell me that PoG has almost run it's correction (hence my 375-385, which would please me <g>). Problem is, that PoS, on the same set of charts, is far to have corrected, which does not corresponds to phoney-mentals. Unless the stability in total open-interest is the one to watch, which implies a strong stealth rally, no matter which prices are printed. Silver currently is a market for people with titanium cajones <vbg>. All this to say that I can't make an opinion. LOL. Btw: what happened to the Kastel & Co, Inc.?