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SPDR Gold Shares Message Board

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  • ajmckay1000 ajmckay1000 Oct 16, 2010 3:42 AM Flag

    who's buying all this metal?

    I'll tell you who else was buying the metals like crazy, this last month in particular...

    Institutional investors who tried to short the metals on their way up too early. They got fried alive and kept burning on the way up. I suspect that many, many of these investors were unwittingly pushing the prices higher as they were covering their losing short positions leading into options expiration...a classic short squeeze with options expiration week as the catalyst.

    They all shorted too soon and burned each other up.

    That "demand" for the metals won't be there in the weeks ahead.

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    • wrong aj, NOV & DEC are always the strogest months months for PMs.

      October is generally a dud.

      if shorts don't get out here, they will be crispy fried heading into the new year.

      • 1 Reply to stinkyhank
      • Hey stinky. I see you're a night owl like me. (I knew you'd be the first to respond to my post.)

        Stinky, past trends do not always repeat themselves.

        For example, you and I will BOTH agree that October has definitely NOT been a dud for gold. So to that extent, that pattern has not repeated.

        Stinky, let me ask you something straight-up...what is your honest opinion as to the percentage chance of a 5% pullback for gold within the next month or so? (Choices: 0-100%)

        Word to you stinky,

121.90-0.31(-0.25%)12:39 PMEDT