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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (152)	7/10/2005 8:27:26 PM
From: gold$10k	Read Replies (1) \| Respond to of 50135

Slider, In the more than 5 years that I've been watching this sector, I don't ever recall seeing a large commercial short position in gold provide fuel to a gold rally (that is, reducing shorts as the POG rises). Typically it's just the opposite, the size of the net commercial short position remains in a trading range, capping gold at the high end of the range and allowing the POG to rise once it reaches the bottom of the range. I haven't been charting the net commercial short position for a while, but my impression is that currently the high end is around 160k - 180k contracts and the low end is about 70k - 90k contracts. It just fell from 165k down to 140k (the last 3 trading days not included), so even if the POG doesn't go much lower (I see $416 as support, but da boyz often like to pierce the expected support level in their game of brinksmanship) it may still take another 2 or 3 weeks for the size of the short position to bottom. Early August is also a more likely time for a seasonal low. Maybe at some point the commercials will lose control of this game, but IMO that is not a good bet at this point. Regardless, I still expect a repeat of the '70s. vt

To: SliderOnTheBlack who wrote (152)	7/11/2005 1:51:05 AM
From: paulmerch	Read Replies (1) \| Respond to of 50135

Control damage starts in Zurich this morning...who planted this article in NZZ? Paul tinyurl.com