my intent was just to welcome youwelcome and nice work squiggy
as of sunday, there were 238,516 contracts of Open Interest that are still sitting in the Dec Contract.those contracts are over half of the overall Open Interest and represent claims on nearly 24 Million Ozs of Gold, or approx. 676 Tonnes. And that 676 Tonnes is over 3X as much Gold that is currently in the COMEX warehouse.
Nobody in the main stream is talking about this. But I can tell you that it doesn't go unnoticed by the "deep pockets" who are, unlike before, now in this market accumulating Gold.
They're very aware that “First Notice Day” for the Dec contract is this Friday. And that it’s possible (not necessarily highly likely) that a squeeze COULD begin to develop later this week.
Again, this is something they're keeping an eye on and will depend on if enough of those contract holders indicate on Friday that they wish to take delivery.
who has the popcorn, this could get very interesting!! be careful! this could cause another launch
dharma
Welcome me to the board and then tell me I'm dead wrong. ROFL. I like your style! That's cool. I don't mind if people disagree. That's how we learn. Personally, I wouldn't put much faith in the COMEX delivery stuff. I lived through the Jim Sinclair COMEX hype of 2008 and it was a total dud. It may happen one day but I am more of a chartist I guess and those things tend to fall under the category of wishful thinking in my book. Don't get me wrong. I am a gold bull. I am not looking for a 'correction', just a stiff bout of profit taking.
if 1150 continues to hold the market will prove you wrong. we as people can have different points of view, it has nothing to do w/my appreciating your presentation of your view
dharma
