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Mix-Ansicht- HGNSI Gold Sentiment auf 8-Jahres-Extrem - Amanito, 07.01.2005, 09:59
- Re: HGNSI Gold Sentiment auf 8-Jahres-Extrem - Fleckenstein: - CRASH_GURU, 07.01.2005, 10:37
Re: HGNSI Gold Sentiment auf 8-Jahres-Extrem - Fleckenstein:
-->A View from the Gold Coast
...Precious metals were under pressure, led by gold. I'm told by knowledgeable friends that there was a fair amount of"black box" shorting of gold, meaning that the trend-following types are now getting short, something that's been a bit of a rarity since September 11. If gold stays under pressure, we'll probably see more momentum-oriented shorting, and that will create more pressure in the short run, though it will set up an absolutely spectacular buying opportunity.
My guess is that we'll learn more after we see how all the markets respond to tomorrow's employment number. Part of me would like to see gold stop going down right here and now, and part of me says that if it were to drop another $10 or $15, it would be such a mouthwatering opportunity that it's almost worth taking the incremental extra pain. In any case, we'll just have to see how it shapes up.
Away from gold, silver, after getting hammered from the $8 level, has been more resistant to declines of late. It, too, I think is setting up in an interesting fashion. Fixed income was back to being fairly quiet, and really not worth discussing. By day's end, oil closed up $2.17 to $45.56.
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