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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: dara who wrote (16628)	7/17/2004 9:57:13 AM
From: russwinter	Read Replies (3) \| Respond to of 110194

On the COTs, everybody should also note that the specs have moved back into gold in a significant way. On May 25 the commercials were short 70,950, now it's 138,728. That suggests that the risk in gold has increased. In this environment of extremely irresponsible monetary policy, I'm still inclined to give gold lots of leeway to move higher, and I'm just going to hang tight with my metal stocks. One scenario to keep in mind though on a short term basis, is another MoP attempt to get maximum mileage and propaganda effect as "inflation fighter" out of the next crackerass 25 bps rate hike in mid-August.