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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?


To: Zardoz who wrote (20262)10/1/1998 1:23:00 PM
From: Ray Hughes  Read Replies (1) | Respond to of 116768
 
Hutch: Amen. Gold's short rise was accompanied by a decline in open interest. That is a classic signal that short covering, not net new buying pressure from longs, put the price up.

If new longs did not exceed closing of short positions, then no bull sentiment exists, as evidenced by the lack of volume buying.

RH