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Strategies & Market Trends : The Ego Forum -- Ignore unavailable to you. Want to Upgrade?

To: hubris33 who wrote (12038)	4/22/2013 11:46:17 AM
From: No Mo Mo	Read Replies (1) \| Respond to of 12175

"Anybody care to look at COT of recent?" Of course. This read of yours was echoing in my head all last week. Were you surprised by the intensity of the drop compared to your COT read? -------------------------------------------------------------------------------------- Message 28813354 "This chart should send chills down yer spine..... Look back at late January when we had the expiry of the the Feb contract. Sure we expected OI to dip (red arrows) as it is want to do at these times (read seasonality...) but seeing COT expand on a drop in POG (green arrows) sure wasn't a positive sign. Now we see history repeating itself. Yesterday as POG gave up nearly $25, COT OI expanded by 10,000 contracts! Unless those boys covered today on the drop overnight in POG, we could see more downward pressure on the yella relic. The trend of OI in COT is clearly down. If there is further expansion in COT OI on today's drop, it could suggest another one of the efforts Jimmie is screaming about - more attacks by the Short of paper gold Bears. Perhaps some shocking world event changes the trend? If not, sure looks to me like the Bears are in control and in charge of the Au market here. Sans some major psychological shift, I don't see an impetus for POG until we hit the traditional buying season for POG in late July- early Aug. So.... Put on some insurance, Hedge something, do whatever. Don't just sit there and take another $80 drop in POG. As others here have postulated, there is massive support at 1423 POG.... You wanna ride the elevator to the bottom?" Message 28813354