The COTs were correct again, and of course they have a pretty good idea of what's coming so it's kinda like trading on insider information. Sooner or later though, they are going to get hurt.
I have some bids in today, but none have been hit yet - the stocks are once again holding up better than the POG would indicate.
So far all of us who thought the commercials might finally be losing comtrol of the gold market have been proven wrong or at least premature. The kind of massive gold bull that many of us expect is not going to happen until the commercials are carried out in pine boxes. ==============================================================
Hi George,
Well, if that's all it takes...... I guess we have nothing to worry about then!
I happen to have it on very good authority that the commercials are always wrong!
Quite frankly, I disagree with those Yahoo like comments, but I do think the commercials are going to become the bull's 'best friends' at some point in the next year or so. Maybe sooner..... who knows when?
Think about this for a minute...
China is hosting the 2008 Olympics.
How many ounces of gold do you think they will need to mint their planned one ounce Gold Panda Olympic commemorative coins?
My guess is 3/4 billion ounces, with a low of 1/2 billion and a high of one billion.
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