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

To: ild who wrote (46232)	11/29/2005 2:34:13 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Tue Nov 29 2005 13:58 trotsky (@gold stock money flows) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved still positive, regardless of intra-day price movements and the public's reluctance to embrace the rally. among the various technicals, this ranks as one of the most important imo. Date: Tue Nov 29 2005 13:03 trotsky (@gold sentiment) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved a few interesting observations: 1. the small trader net long position in the COMEX gold futures has reached a fresh 3 year low as of last week. 2. money has so far failed to flow into the Rydex pm fund lately, in fact there has just been another outflow. conclusion: the public at large has more or less missed the most recent upleg in the gold sector. iow, few people seem to actually believe that 500 is a surmountable number. who is buying? large speculators, i.e., mostly hedge funds and other institutional investors. note though that the proportion of gold stocks in generalist fund portfolios remains inadequately low. it sure does not reflect the sector's performance and increasing importance in terms of total market cap weight. why is that so? Wall Street still hates gold stocks. there is no other market sector that combines such excellent performance with such low analyst ratings for its component stocks. the only other recent example that comes to mind are oil stocks in 2003. in short, the fun probably isn't over yet. Date: Tue Nov 29 2005 12:51 trotsky (@housing data) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved as always, it turns out the government's numbers fail to reflect reality. 'record home sales in October' blare the headlines. so how come inventories have swelled to multi-year highs, and prices have been retreating since July? the answer is in the little phrase 'seasonal adjustments': Message 21926949 in other words, the government is busy counting dollars again that neither anyone spent, nor anyone received. the numbers will of course be revised at a later date, by which time no-one will care about them anymore ( this calculation informs practically every economic statistics release from the government ) .