COT Gold/Silver
#1
Posted 17 February 2007 - 07:41 AM
Gold short positions going well beyond levels when the sector posted its Dec. high, matching levels achieved at the May'06 highs. See how early Oct. was a good entry level for the metals?
cheers,
john
#2
Posted 17 February 2007 - 01:33 PM
#3
Posted 17 February 2007 - 02:13 PM
#4
Posted 18 February 2007 - 06:52 AM
The future is 90% present and 10% vision.
#5
Posted 18 February 2007 - 03:56 PM
i would'nt read too much into those numbers, most of those short positions are mine, and
everyone knows i'm about to get stopped out sending gold to da moon/sun/cygnus...etc
The only thing I would attempt at this point is a short on something like GDX. The metals can bang higher, while the shares diverge technically from here (ie. weaken). March still holds a key astro turn date and likely high for the year. I just don't know what that will be so I would rather pass on that speculation. But as we get throught the spring equinox, I will feel more confident on which trade to make. At that time, I may actually enter a metal short to hedge my bullion positions.
cheers,
john
Edited by SilentOne, 18 February 2007 - 03:57 PM.
#6
Posted 18 February 2007 - 04:10 PM
Silent,
Thanks for posting the COTs. I didn't realize it was getting THAT
late in the run. Definately a worry. BUT last spring the HUI rose
sharply for 5 more weeks after the COT hit these levels.
I will probably start scaling out of my jrs soon.
Paul
It is the large spec (read: hedge funds) positions that you have to watch. They always get it wrong. The commercials taking the short side just accomodate the long speculation. Nothing less, nothing more. So at some point there will be a liquidation. There always is.
cheers,
john