MLSOFT,
". A solid breakout will force some covering, I would think"
So would the possibility of some well funded bulls standing in line for a couple hundred deliveries against the Jan. Contract. The shorts would need a million or so oz. just to fulfill their contractual committment. It's either that or buy back their short positions. I'm trying to find out whats in Comex approved storage, but I've been out of the biz for so long that my 'pals' have, for the most part, retired too. I'll let you know if I hear anything worth repeating. At the very least, it should be an interesting month, indeed.
My best to you,
Dan
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