Hi Ken, and good morning to you from sunny Palm Harbor, Fl., home of the fighting Florida strain micropterus salmoides.
While admittedly not familiar with the 'workings' of the LW/Genesis 'system,' much less it's overall success ratio, I do think the dates you provided mark some important turning points w/r to the PoG. You didn't indicate what their 1/09/04 'call' was, but I presume it was also "Bearish."
According to the dates you presented ( 1/9, 4/2 and 11/26) they called the three major tops of 2004. Out of curiosity, did LW/Genesis also call the May 04 bottom that resulted in a $90 rise over the next six months?
Btw, your assertion, "with gold, the commercials are just about always net short by some amount as many producers still hedge their future sales" is incorrect.
The commercials are usually on the other side of the secular trend in the gold futures market and as a result were long throughout most of the multi year bear market preceeding the current bull.
In any event, I'm pleased that they are bullish now as that jibes with my feelings........ <vbg>
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