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

To: ggersh who wrote (87221)	10/2/2007 12:08:02 PM
From: orkrious	Respond to of 110194

@gold -- trotsky, 09:29:57 10/02/07 Tue well, that combination of the most stretched gold CoT report in history and an extremely oversold dollar was bound to strike. i hope you didn't fall for Lord Jim's 'trader Dan' telling everyone that it didn't matter. that said the technical damage from this decline is not yet too bad - the problem is only that the speculative net long position remains huge. any further bounce in the dollar (which seems practically assured at this stage, since there are no dollar bulls left whatsoever) and they will keep unwinding the position. we'll see how the gold stocks take this sell-off in gold - they do look a bit unhappy in the pre-market (falling faster than they went up).